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Profit potential Your profit potential is result of a number of elements.

Here you may use porters 5 forces to evaluate your profit potential from an industry perspective. You will express any cost advantages, or those internal attributes you may have that generate revenue Target market This section describes who youre targeting, their demographics. Are you targeting people that are willing to pay a premium, or are they thrifty. Are your customers young, old, male, female, technologically savvy, located in a particular area. Do your customers own their own home, or do they rent? Are they health conscious or do they prefer fast food? Conducting some marketing research for this area will be useful as you will be able to analyse and provide statistics that may help you get to know who your customers are. Competitive position This area reviews where you stand within your market or industry. Discuss who you will be competing with, how well are doing and how are you going to attract customers to come to you rather than them. Is there room for growth

including the behaviour of and relations between competitors, suppliers, and customers Understanding the different factors at work within a given industry is an important component of effective strategic planning for any company. You should start out by defining type of industry you are and then determine what sector of the industry determine what sector of the industry you will occupy. Once this is established, you can research what factors have a potential impact on your start-up and the major organizations in the industry.

nurseries, cattle raising, cattle breeding, and etc.. 3. Extractive sector

Concerned with the extraction of drawing out of goods from soil, air, and water. Generally, products of extractive industries come in raw form and they are used by manufacturing and construction industries for producing finished products. E.g.: mining industry, coal mineral, iron ore, extraction of timber, and rubber from forests, etc.. 4. Manufacturing industry

Engaged in transforming raw material into finished product with the help of machines and manpower. The finished goods can be either consumer goods or producer goods. E.g.: textiles, chemicals, sugar industry, paper industry, etc.. 5. Construction industry

Classification/types of industry 1. Primary industry

Is concerned with the production of goods with the help of nature. It is a nature-oriented industry, which requires very little human effort. E.g.: agriculture, fishing, farming, forestry, horticulture and etc. 2. Genetic industry

Take up the work of construction of building, bridges, road, dams, canals, etc. This industry from all other types of industries goods can be produced and sold by constructive industry are erected at one place. 6. Service industry

Industry analysis Analysis of conditions in an industry at a particular time,

Are engaged in re-production and multiplication of certain spices of plants and animals with the object of sale. The main aim is to earn profit from such sale. E.g.: poultry, plant

In modern times service sectors plays an important role in the development of the nation and therefore it is named as service industry. The main industries, which fall under this category, include hotel industry, tourism industry, entertainment industry.

Industry sector 1) Primary sector This involves the extraction of resources directly from the Earth, this includes farming, mining and logging. They do not process the products at all. They send it off to factories to make a profit. 2) Secondary sector This group is involved in the processing products from primary industries. This includes all factories --those that refine metal, produce furniture, or pack farm products such as meat. 3) Tertiary sector This group is involved in the provision of services. They include teachers, mangers, and other service providers. 4) Quaternary sector This group is involved in the research of science and

technology. They include scientists. 5) Quinary sector Some consider there to be a branch of the quarternary sector called the quinary sector, which includes the highest levels of decision making in a society or economy. This sector would include the top executives or officials in such fields as government, science, universities, non-profit, healthcare, culture, and the media.