C1 Longlist parameters (market analysis)

Your newest mission: compile a comprehensive list of market analysis parameters tailored to your business idea. Dive deep into the market landscape to unveil opportunities. Ready for some great thinking?

In this task, you’ll need to compile a list of items to guide your market analysis for your business idea. The aim is to determine if there’s a market for your idea and how big it might be. Examples of common parameters for market analysis are:

  • Market size: How big is the market for your product or service?
  • Growth trends: Is the market growing, shrinking, or staying the same
  • Competitors: Who else is offering similar products or services?
  • Target market definition: Who are potential buyers? How does these groups behave as customers in this market?
  • Regulations: Are there any rules or laws that could affect your business
  • Unique selling points (USPs): What makes your business idea stand out from competitors?

What to do?

  • Make a list of things to consider when studying the market for your business idea. Write down as many items as possible. First, list the 9 most important parameters, then add more.
    Once you click the ‘Core’ tab, you will be required to upload your list and fill out the questions. It would be unfortunate to realize this too late! So please check beforehand to align your approach accordingly.

Think of a mixing console at a concert. Just like adjusting the knobs for the perfect sound, list all the important factors (parameters) to analyze the market for your business idea.