Market Assessment

Market assessment is the process of evaluating an industry or market to understand its size, dynamics, customer needs, competition, and potential for growth. It helps businesses identify opportunities and challenges by analyzing factors like target audiences, market trends, pricing, and competitors. This information guides strategic decisions, such as launching new products or entering new markets, ensuring efforts are aligned with market demand and conditions. Overall, it’s a vital step to understand the environment in which a business operates and to make informed, data-driven choices.