Marketing Plan – The Overall Market. You may be thinking `Why I should I have any discussion of the overall market since I’m only going to compete in one small niche or market segment?`
An overall discussion of the market gives context to your plan and to your business. It also enables employees, investors and customers to feel better about your company. `We’re part of the multi-billion dollar residential landscaping industry,` sounds a lot more motivating than `we mow a few lawns and remove weeds.`
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An overall discussion of the market or industry may also help bring to mind business opportunities or market or product extensions. Unless you are raising a large amount of equity capital it is not essential to have multiple authoritative sources and absolutely precise market information. But you should identify your sources and clearly note where you have made estimates.