Question

What is market assessment?

Answer 1

$\huge{\mathcal\red{♡Answer:}}$

Market assessment is a detailed and objective evaluation of the potential of a new product, new business idea or new investment.

$\huge{\mathcal\red{♡Explaination:}}$

Market assessment is a comprehensive analysis of environment forces, market trends, entry barriers, competition, risks, opportunities and the company’s resources and constraints. Whether you are thinking of venturing into a new market or launching a new product, conducting a marketing assessment is the crucial first step in determining if there is a need or a potential customer base for your product.

A well executed market assessment will enable your company to decide where to use limited resources and to go after markets and opportunities that will provide the best returns on investments. Failure to conduct proper market assessment could result in wastage of resources, missed opportunities, poor returns on investments and even substantial financial losses which could be detrimental to the future of your company. A market analysis studies the attractiveness and the dynamics of a special market within a special industry. It is part of the industry analysis and thus in turn of the global environmental analysis. Through all of these analyses, the strengths, weaknesses, opportunities and threats of a company can be identified.

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Answer 2

Answer:

Market assessment is detailed and objective evaluation of the potential of a new product, new business or new investments.

It is a comprehensive analysis of environment forces, market trends entry barriers, competition, risks, opportunities and the company's resources and constraints. Whether you are thinking for venturing into a new market or launching a new product conducting a marketing assessment is the crucial first step in determining if there is a need or a potential customer base for your product.

A well executed market assessment will enable your company to decide where to use limited resources and to go after markets and opportunities that will provide the best return on investments.

Failure to conduct proper market assessment could result in wastage of resources, missed opportunities, poor returns on investments and even substantial financial losses which could be detrimental to the future of your company.

Explanation:

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