We are ready to take our business to the next level. It’s time to grow! Our company requires some assistance is assessing our preparedness to grow, assessing the customer landscape outside of our current market, deciding on the best course of action and developing a strategy to implement our plan.

We want to learn more about customer’s expectations and behaviors in suggested new markets. It is important for us to stay up to date on industry standards to ensure that we research new markets fully and completely before choosing to enter. We have some ideas of where we would like to go but we need to make sure that we consider all available options before making a decision.

Our specific need is an outline of our industry’s expansion opportunities through a market analysis, and prior to that, a SWOT analysis of our business.

To consider: which markets align with our current one? Where are there buyers that we have yet to reach? What are the pros and cons to expanding our operations? What potential competitors exist in new markets? What legal protocol will need to be considered? What capabilities do we currently have that we could apply to different markets? We would like this to be partnered with some primary data collection; surveys and research into our present and future consumer to gather insights into buying behaviors and expansion expectations. These should supplement the market recommendations.

Students can focus on either or both these sections:

• SWOT Analysis
• Expansion Strategy
• Marketing Plan