Market research is something you or a company hired by you does about your product, in this case handbags/purses. Do the people in your area use these products? If so what type of bags do they prefer those made out of leather or synthetic materials? Do they tend to buy upscale products or disposable bags? Etc. You want to establish what type of market are you looking at a well established market for this type of product with lots of competition, an undeveloped market were by introducing your products you will be breaking new ground as you go or anything in between.
Size of industry is the industry expressed in dollars over a given period of time. In a year 1,000 handbags are sold for $10,000. Since this is for a business plan you want to narrow it down to a figure that is relevant for your purposes, for instance, while the market size for handbags in the US may be 10 billion dollars annually, if you are going to open a shop in a Mall in a town with 20,000 people knowing that in the US the market size is 10 billion is of little if any use to you. Within the area that your business will serve how many handbags are sold annually? That is the size of the industry you are looking at.
Key products segments, you should divide the handbags market into it’s components, i/e. into leather, cloth, plastics and organic materials as well as upscale/elegant, everyday use etc. of those pick the ones that will be ‘key’ segments for your business. If you will be narrowing your focus to a specific niche mention why.
Key market segments as above but instead of it being focused on your target market in this case you should be talking about the general market. Mention if they are the same as those of your business plan.
Key industry trends, what segments in that market are taking off, or used to be a ‘hot’ area but are now in a downtrend. Is this a temporary situation that you can profit from or is it a more generalized nationwide development. What is happening in that market and why.
Industry outlook, what’s in the future for this market? Are young people taking to handbags or do they find them redundant, for instance watches are in a downward trend as cell phones take off, since the cell phones come with a clock in them the watch is becoming a symbol of a bygone era among young folks.
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Define: business market
do the same with all the others, it should aid you in understanding what you are trying to do.