new business module

INITIAL MARKET ASSESSMENT 71
overview of what information can be obtained from what
source. It serves as a guide and is by no means exhaustive.
Entrepreneurs should take any information they can get.
Often the same type of information can be obtained from different
sources. Entrepreneurs should use all available sources
and cross-check the information they get. This will allow them
to obtain better quality information and a more accurate
analysis.
1.3 How to conduct an initial market assessment
Hand-out 26 contains a simple form that can help entrepreneurs
conduct their initial market assessment. Entrepreneurs
should not feel constrained by the form. The form should be
used as a support tool and not prevent entrepreneurs from
investigating other subjects and questions. It is intended to
get entrepreneurs going, to help them analyse competitors
and their products, customers and market segments, and suppliers
of the materials and equipment needed.
Chances are entrepreneurs will not be able to obtain all the
information during their first assessment effort. They should
not be discouraged by this. They should just go out again and
collect the missing information.
Entrepreneurs should continue assessing their business environment
even after they have established their business. The
business environment and markets are evolving all the time
and careful observation is needed to stay informed and remain
competitive.