Know Your Market
A target market is a group of customers within the serviceable available market that a business has decided to aim its marketing efforts towards.
Know Your Competition
Competition is often considered to be the opposite of cooperation, however in the real world, mixtures of cooperation and competition are the norm.
In economics and marketing, product differentiation (or simply differentiation) is the process of distinguishing a product or service from others, to make it more attractive to a particular target market
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A business can use a variety of pricing strategies when selling a product or service. The price can be set to maximize profitability for each unit sold or from the market overall.
Paralysis By Analysis
Paralysis by analysis is the state of over-analyzing (or over-thinking) a situation so that a decision or action is never taken, in effect paralyzing the outcome.
A business plan is a formal statement of business goals, reasons they are attainable, and plans for reaching them.