Market Feasibility

Market feasibility assesses whether a product or service can successfully enter and compete within a specific market. It involves analyzing factors such as customer demand, target audience, competition, industry trends, pricing, and potential barriers. The goal is to determine if there’s a viable opportunity for the business to achieve its objectives and be profitable. Essentially, it helps owners understand whether their idea is worth pursuing by evaluating the market’s health and potential before investing significant resources. This process reduces risk and guides strategic decisions for new ventures or expansions.