Trends
From all your research into your industry and your marketplace, you should have a good feeling for what the trends are. This will include knowledge such as:
- Is the demand for your kind of products or services growing or shrinking?
- What’s happening to the pricing?
- What’s happening to the cost of raw materials?
- Are there new companies entering the marketplace all the time?
- Is anyone going out of business? Why?
There will be other important trends in your industry and your marketplace. You need to identify them. So, for example, in the ice cream industry in the UK one trend is for developing ice creams based on well-known chocolate and confectionery brands and, at the upper end of the market, there is also a trend for specialist-branded ...
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