III.

INDUSTRY ANALYSIS

A. Future Outlooks and Trends

Food Cart business is currently a small business (micro business) where the owner is the

principal worker and employs one or more assistant. It has a low capital, and has insufficient

financial resources. Capital is usually financed by the family through its own savings and/or

loans. This business is fund by a small group so capital can also comes from relative and close

friends. Food cart business can easily respond to changing economic condition without suffering

from huge losses. The operation conducted right inside the market place, closer to the buyer

with first hand information about their taste/ preferences and respond quickly to the needs of the

customer to satisfy their demands. The size of the enterprise is small in relation to the industry.

For the future, FOOD CART business will become a bigger small business where the owners

mainly direct the work of the employee.

B. Analysis of Competitors

Names of competitors, how many competitors, and their address.

C. Market Segmentation

The nature of market is the demographic segmentation and behavioral segmentation.

Demographic segmentation where in it is the wide study of potential customers. While

marketing the product, many variables like age, gender, education, income, family, size,

occupation, socio economic status, culture, religion, language and nationality are taken into

account.

It can be a behavioral segmentation also because it is based on the customer’s needs and

subsequent reaction to those needs or towards the purchase of intended products.

D. INDUSTRY FORECASTS

After 5 years, as the business grows, the owners /entrepreneurs hires more employees usually

relatives and town mates. The product distribution expanded and sales rise rapidly as products

become popular. Moreover, the Food Cart business will be available in different places. As the

business becomes well known, the sales and the profit will triple.