Nigeria

📈 **Understanding Customers and Trends** 📊

In your business plan, it’s essential to identify key customer and market trends, and outline how you’ll respond. Consider if trends are beneficial 👍 or challenging 👎, whether the market is growing 📈 or shrinking 📉, and understand competitor dynamics. Analyze who makes purchasing decisions 🤔 and if these patterns are shifting. Evaluate any new demands from customers or emerging needs 🌱. Use tools like market research, focus groups, and competitive analysis 🔍 for insights.

For example, a training business may face challenges during a recession as companies cut training budgets 💸. To counter this, it can expand its client base and boost sales efforts 🔄. During growth periods 🚀, it can raise prices or increase offerings to meet demand. Shifts in buyer roles—from HR to business unit leaders—require adjusting sales strategies and expanding services to meet new demands 🛠. In your plan, outline these trends and specify actions to address both positive and negative shifts.

**Here is what you'll learn**

* Introduction
* 1\. Defining Your Business
* 2\. Understanding Your Market
* 3\. Defining Your Produce
* 4\. Selling Your Product
* 5\. Running Your Operations
* 6\. Managing Your Business
* 7\. Projecting Your Financials
* Conclusion

English

Business Development

Business Marketing

Communication

Identify key market trends and customer needs in your business plan, detailing strategies to address challenges and capitalize on growth opportunities

Creating a Business Plan

A file of your completion certificate in PDF format

Creating a Business Plan

By UNICEF Nigeria