Page 51 - THE CARIBBEAN ADVANCED PROFICIENCY EXAMINATIONS

Analysis of Results

 Product Characteristics

Describe the physical features of the product that will be offered, the added services and
benefits, the quality and uniqueness.

 Market Analysis

Market size, market share; potential or opportunities for growth; threats that might pose a
risk.

 Sales Analysis

Potential yearly sales (Number of potential customers times average amount to be spent).
Sales trend/seasonality. Potential for increase in annual sales.

 Customer Analysis

Who are your customers? (industry, other businesses, consumers); demographic (age, income
group, gender, marital status); psychographics (life-style, interests, activities, opinions, buying
habits. How best can you satisfy their needs?

 Promotion and Advertising

What is the most effective way to inform customers?
Including radio, television, press; sales promotion and freebies, fliers, telemarketing, Internet.

 Pricing Strategy

What is your suggested retail price? what level of discounts will you give for wholesale and
volume purchases? Will you adjust your prices based on seasonality of demand? What will be
your policy on bundling, price flexibility and price discrimination?

 Competition

Who are the competitors? Is the market fragmented (many small sellers) or concentrated
(few large sellers), or is there a combination?

Who are the main competitors? What share of the market do they have? What is their
competitive advantage? (Evaluate the strengths and weaknesses of their product, price,
promotion and place). How do you propose to compete? What will your competitive edge
be?

Conclusions and Recommendations

A report on actions to be taken based on your analysis above.

Appendices
Include secondary data sources and exhibit of product design in this section.

CXC A31/U2/13 46 www.cxc.org