A market assessment is a comprehensive analysis of your company’s competitors, consumers and other industry stakeholders.
A critical part of your company documentation, a market assessment enables your company to understand the need and demand for its business offerings in the market. It provides details on market opportunities, growth drivers and barriers, industry cost structure, distribution channels, market trends, key success factors, market competitiveness, and consumer preferences.
Conducting a market assessment study is critical for your company whether you are looking to launch, expand your business or grow your consumer base.
Market assessment enables your company to:
Market assessment is important for an event tomorrow, as it helps: