In this section you should define your market, your position in it and outline who your competitors are. In order to do this you should refer to any market research you have carried out. You need to demonstrate that you're fully aware of the marketplace you're planning to operate in and that you understand any important trends and drivers.

You should also be able to show that your business will be able to attract customers in a growing market despite the competition.

Key areas to cover include your:
market - its size, historical data about its development and key current issues
target customer base - who they are and how you know they will be interested in your products or services
competitors - who they are, how they work and the share of the market they hold
future - anticipated changes in the market and how you expect your business and your competitors to react to them

You also need to know how your competitors' advantages and disadvantages compare to your own. Describe any competitive analysis you have carried out and include some what-if scenarios that show how your business would deal with customers' changing needs or any other market changes.