Researching Your Market
Whether you're just starting out or if you've been in business for years, it's always a good idea to stay up-to-date with your market information.
A Market assessment should be conducted to help determine the viability of a proposed product in the marketplace. The market assessment will help you identify opportunities in a market or market segment. If no opportunities are found, there may be no reason to proceed with a feasibility study. If opportunities are found, the market assessment can give focus and direction to the construction of business alternatives to investigate in the feasibility study. A market assessment will provide much of the information for the marketing section of the feasibility study.
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