You can disrupt the market’s status quo by offering to deliver lunch to people right in their workplaces.
Filling loopholes like this one should be your goal.
A great general-purpose tool for doing just that is the PEST Analysis.
Here’s what it stands for and what you should consider: In short, this section of your industry analysis outlines how you will deliver your product to the customers and how you will win customers to your side.5.
You are going to offer a product or service with a clearly defined customer base, and you are confident that you will be successful in the long term.
Well, if the above applies perfectly to you, then you have not completed your assignment.
You are trying to see how you can push ahead of them by filling a loophole they never noticed all these while.
Some people find it hard to leave their workplace for the restaurant at lunchtime, but it’s either they do it or go hungry.
(As a final note, you must never forget that the industry analysis is a vital part of your business plan and it will probably be the most extensive portion of it.
So, take your time to conduct extensive research on your competitors and market trends over the recent years.