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er of people who could buy from your business. For example, if your concept is a local flower shop [link widoczny dla zalogowanych], your potential market might be anyone within an eight-mile radius. If you’re also selling over the Internet and offering delivery, your potential market might expand to people who have credit cards and a reason to have flowers delivered in your geographic area.Once your potential market is defined [link widoczny dla zalogowanych], it’s time to start narrowing down. Now you must figure out how much of your potential market is also within your addressable market. You must ask yourself who within your potential market is likely to have an interest in your product. Going back to the local florist example, perhaps you include individuals of a certain age who have special occasions coming up. Perhaps you also include organizations such as churches and businesses that might have a regular need for flower delivery.Finally, you etch out your target market from the addressable market. Identify who within your addressable market is likely to buy from you based on demographics [link widoczny dla zalogowanych], geographical limitations, personality traits and attitudes and consumer habits.A Final WordThough the competitive analysis section of a business plan typically follows the market analysis, it is a good idea to perform your competitive

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