A Market Analysis For Your Business

The term "market analysis" is often confusing to entrepreneurs, especially for people who focus on a specific niche or market segment. In fact, many small business owners don't understand the process or complain that conducting a market analysis is too complicated or too expensive and wonder why or if it is necessary. What is market analysis? In the most basic terms, a market analysis is an assessment of: - A particular problem or opportunity in a market. - The needs of the target market relating to the problem or opportunity. - Ideas for marketing a particular product or service that fills the needs of the target market. When should you conduct a market analysis? - When you are starting a business. - When you are entering a new market. - When you are considering a n View the rest of this article