Solar Market Analysis
A solar business plan needs to ascertain its geographical scope, which will determine the level of competitive analysis and market share and penetration that is necessary to develop the Marketing Plan, forecasts a viable solar business plan. First, with your guidance and input, we need to establish the service area of your business. That could be determined by basic distance of exiting office, but an assessment of the opportunities and competitors should drive the decision as well. For other a solar business plan that involved new technology like solar film, their service area includes the entire United States and sometimes the entire world via the Internet and otherwise.
For a local or regional business assessing the competition often is best completed initially by the client under our direction with our review, comments, and edits. We specialize in research that can establish the competition either locally, regionally, or nationally, depending on the goals and objectives of a particular solar business plan.
We are often asked to provide standalone market studies. This is an area of strong expertise, which includes nationwide support from our network of affiliates, consultants, and experts, including public relations experts, branding consultants and other team members. Once the Competitive Analysis is complete, businesses of substance need to draw conclusions through comparative analysis to establish a Market Share, typically over a period of years in revenue for the client’s forecasts when compared to the overall market and competitors.
Market Penetration Rate
Once we have established the Service Area and then completed the Competitive Analysis and Market Share, we can then establish a Market Penetration Rate. The Market Penetration Rate is defined as a series of logical assumptions that determines what percentage of customers or consumers will utilize your solar business service(s) and/or solar business product(s) within your service area over a period of time and is closely aligned to your Marketing Plan.