unit 2 folding bikesWatch
First up - https://www.thestudentroom.co.uk/sho....php?t=5085638 - I've attached somebody's coursework which may help you. This is worth a read too: https://www.tutor2u.net/business/blo...lding-bicycles
I happen to have done this module before, so I'll try and help out
You want to research
- Market size and structure
- Target market
- Ext. influences
I'll keep it brief for my own sanity, so:
-Competitors - list a few companies that make portable bikes. Eg. Moma, ecosmo, Di Blasi . Aimimal are luxury vendors.
- Market size and structure - This is the part you needed help with I'm guessing? A market structure describes the characteristics of a market. Is it competitive? Momopolistic? Oligopolistic? Read this: https://quickonomics.com/market-structures/ -- I'd say it's Monopolistic Competition, as the market and the firms selling these bikes are quite small; its a fairly niche product.
- Target market - who is the audience? Commuters in cities, travellers, people w/ limited storage space
- Trends - not really sure to be honest. Size, comfort, and price? - modern aesthetics?
- Ext. influences. These bikes are mostly used as a tool rather than for pleasure so, if people stop doing the activity, they stop using (and buying) bikes. Eg. Country on lockdown = nobody commuting to work on folding bike. Bad economy = people have less money and time to travel, so won't use their bikes, or buy new ones. Price elasticity: if the prices of rubber/metal go up, can companies afford to raise prices/ accept less gross profit? Income elasticity: When incomes go down, will bike sales drop too? Probably.
Not sure if that helps, feel free to message me if you have any other specific questions