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Market Segmentation
For the purposes of the OP Management Services business plan, the Consulting
Services industry is segmented as follows:
There exist other criteria by which to segment the industry, such as by annual income, gender,
and by sector.(eg, non-profit vs for profit, etc)
● Industry Analysis
● Additional Evidence
● Increased Interest in Entrepreneurship
Market Size
OP Management Services is planned to be based out of Melbourne, Florida. This is due
to factors that may affect both the target market size and the firm’s desired positioning along
both the value and supply chains. It is important to note that although the company’s offices are
located in Melbourne, all of the companies potential customers may not be native to the area.
As a result the business plan will proceed from here on the assumption that the target market
will be communicated with both in person and over the Internet via video conferencing calls, etc.
According to IBISWorld, the management consulting industry reported an annual
revenue of approximately $229 billion. The tech company, and individual market segments
account for 9.5% and 7.4% of the management consulting market respectively. Thus the
combined market segment that OP Management Consulting is targeting is approximately 16.9%
of the overall management consulting market revenue. Thus the potential target market is
estimated at $38,498,200,000.
Buyer Behavior
The following are key factors that affect decisions a target market consumer for OP
Management Services:
● Programs and Services
● Affordability
● Knowledge and Availability
● Networking Opportunities
Competitor Analysis
Direct Competitors
There are 172 firms that offer consulting services to some degree in Brevard County.
These firms can be broken down into the following groups:
● 15 Firms including Percepta, Florida Business center that are considered as High
Profile, and deal with corporations and multinational organizations
● 41 Firms including TSR, Inc and M&M Maintenance Management that are
considered mid profile and deal with established businesses and non-profit
organizations
● 116 smaller and independent consultants that are considered specialist firms and
independent firms and deal with individuals.
Indirect competitors
Indirect competitors include any companies that offer incubation or start-up acceleration
services, or outsourcing services to consumers inside the target market segment.These
competitors would include universities such as Florida Institute of Technology’s Student
Business Incubator or Groundswell Start-Ups Coworking Spaces.
Future Competitors
As IBIS World reports have previously indicated the consulting industry is predicted to
grow over the next few years. In that time other competitors both direct and indirect are
expected to emerge, from coworking spaces to consulting firms that offer a combination of
“incubation” and “startup acceleration” services. While some of these firms are expected to have
offices in Brevard County, the majority of these competitors are expected to be on an either
regional, or national scale.
● Clients on Retainer/Contract - Customers who sign up with the company for continued
help with access to all services that the company offers. The amounts charged per client
may vary due to the fact that these contracts can be negotiated. Despite this, the
average contracted client will be estimated at about $6000 per year. A contract will be
for one year and can be renewed if the client sees fit.
○ Projected Retainer Earnings
○ 2018: $9,000,000
○ 2019: $12,600,000
○ 2020: $15,000,000
● Seminars and Classes - Individuals and professionals can sign up for seminars and
classes throughout the year, which will be held by the company and cover a variety of
topics that will be beneficial to employers and individuals.The price of these seminars
may vary but will be estimated at an average of $75 per seminar
○ Projected Seminar Earnings
○ 2018: $112,500
○ 2019: $157,000
○ 2020: $187,500