Knowing the customers is not the only decisive factor for the success of the business, but also the investigation of the relevant markets. Because if you do not know how the industry in which you operate develops and how your own position in the market is represented, you cannot use marketing and sales measures effectively. In order to obtain this information, a professional market analysis is recommended, with the help of which you can determine your market penetration as well as your potential and risks.
When planning your business model, it is important to consider the geographical distribution of the target group, you can optimally plan new locations, taking into account factors such as earning potential, infrastructure and competition. You will find out where your products or services are requested and where the competitive situation is best for you.