Overview
This prompt guides experienced businessmen in conducting comprehensive market research for a new business venture. Entrepreneurs and investors will benefit by gaining insights into market viability and strategic planning.
Prompt Overview
Purpose: This market research report aims to evaluate the viability of starting a business in the targeted region.
Audience: The primary audience includes potential investors and stakeholders interested in the business’s success and market potential.
Distinctive Feature: This report offers a comprehensive analysis of competitors, market trends, and consumer preferences in the targeted region.
Outcome: The findings will guide strategic decisions, helping to identify opportunities and mitigate risks for the business launch.
Quick Specs
- Media: Text
- Use case: Market research report creation
- Techniques: SWOT analysis, surveys, competitor analysis
- Models: Porter's Five Forces, PESTEL
- Estimated time: 4-6 weeks
- Skill level: Advanced
Variables to Fill
- [business] – Business
- [DESCRIBE YOUR BUSINESS] – Describe Your Business
- [TARGETED REGION] – Targeted Region
- [PRIMARY TARGET AUDIENCE] – Primary Target Audience
- [SECONDARY TARGET AUDIENCE] – Secondary Target Audience
- [COMPETITORS IDENTIFIED] – Competitors Identified
Example Variables Block
- [business]: Organic Coffee Shop
- [DESCRIBE YOUR BUSINESS]: Sells organic coffee and snacks
- [TARGETED REGION]: Pacific Northwest
- [PRIMARY TARGET AUDIENCE]: Health-conscious millennials
- [SECONDARY TARGET AUDIENCE]: Local businesses and remote workers
- [COMPETITORS IDENTIFIED]: Starbucks, Peet's Coffee, local cafes
The Prompt
#CONTEXT:
Adopt the role of an experienced businessman specializing in market analysis. Your task is to conduct thorough market research for starting a [business] in the targeted region. This research will:
- Identify potential competitors
- Understand current market trends
- Evaluate the demand for the business offering
- Assess potential opportunities and threats
- Identify the target audience’s preferences and pain points
#GOAL:
Create a comprehensive market research report that covers all aspects necessary to understand the viability and potential success of the business in the targeted region.
#RESPONSE GUIDELINES:
Follow the step-by-step approach below to conduct the market research:
- Industry Analysis:
- Outline the broader industry the business falls into.
- Analyze current industry trends, including growth rates, technological advancements, and regulatory changes.
- Evaluate the impact of socio-economic factors on the industry.
- Competitive Landscape:
- Identify major competitors in the region, including their market share, strengths, and weaknesses.
- Analyze their marketing strategies, target audiences, and product offerings.
- Look for gaps in the market that the business can fill.
- Target Audience Analysis:
- Define the primary and secondary target audience segments for the business.
- Conduct surveys, focus groups, or use secondary data to understand their needs, preferences, and pain points.
- Analyze how the business’s offering meets the target audience’s needs.
- SWOT Analysis:
- Conduct a SWOT analysis to identify the business’s Strengths, Weaknesses, Opportunities, and Threats in the targeted region.
- Use this analysis to strategize on leveraging strengths and opportunities while addressing weaknesses and threats.
- Market Demand Evaluation:
- Estimate the size of the target market and the demand for the business’s offering.
- Analyze sales data, market reports, and competitor information to forecast potential sales volume.
- Determine the pricing strategy based on the value perception and purchasing power of the target audience.
- Regulatory and Legal Considerations:
- Identify any regional regulations, licenses, or legal requirements that may impact business operations.
- Evaluate the impact of compliance costs on the business model.
- Opportunities and Threats:
- Highlight any emerging opportunities the business can capitalize on, such as technological advancements or shifts in consumer behavior.
- Identify potential threats, including increased competition, regulatory changes, or market saturation.
#INFORMATION ABOUT ME:
- My business: [DESCRIBE YOUR BUSINESS]
- Targeted region for market entry: [TARGETED REGION]
- Primary target audience: [PRIMARY TARGET AUDIENCE]
- Secondary target audience (if any): [SECONDARY TARGET AUDIENCE]
- Competitors identified: [COMPETITORS IDENTIFIED]
#OUTPUT:
Your market research report will be a detailed document covering all the above aspects. It will provide insights into the viability of the business in the targeted region, identify potential challenges, and recommend strategies for success. This report should serve as a foundation for making informed business decisions and strategizing the market entry.
Screenshot Examples
[Insert relevant screenshots after testing]
How to Use This Prompt
- [INDUSTRY]: Overview of the broader industry.
- [COMPETITORS]: Key players and their market positions.
- [TARGET_AUDIENCE]: Primary and secondary audience segments.
- [SWOT]: Strengths, weaknesses, opportunities, threats.
- [MARKET_DEMAND]: Size and demand for offerings.
- [REGULATIONS]: Legal requirements impacting operations.
- [OPPORTUNITIES]: Emerging trends and market gaps.
- [THREATS]: Potential challenges and risks faced.
Tips for Best Results
- Industry Overview: Analyze the broader industry landscape, focusing on growth trends and technological advancements.
- Competitive Analysis: Identify key competitors, their market share, strengths, and weaknesses to find market gaps.
- Target Audience Insights: Define primary and secondary audiences, understanding their preferences and pain points through surveys.
- SWOT Framework: Conduct a SWOT analysis to strategize on leveraging strengths and addressing weaknesses in the market.
FAQ
- What are the current trends in the targeted business industry?
Current trends include increased digitalization, sustainability focus, and consumer demand for personalized services. - Who are the main competitors in the targeted region?
Main competitors include established brands with strong market shares and innovative startups offering niche products. - What are the primary needs of the target audience?
The primary needs include quality, affordability, convenience, and excellent customer service. - What opportunities exist for the business in this market?
Opportunities include leveraging technology, addressing unmet consumer needs, and expanding into underserved demographics.
Compliance and Best Practices
- Best Practice: Review AI output for accuracy and relevance before use.
- Privacy: Avoid sharing personal, financial, or confidential data in prompts.
- Platform Policy: Your use of AI tools must comply with their terms and your local laws.
Revision History
- Version 1.0 (December 2025): Initial release.