Introduction: Market analysis is a critical business function that involves the assessment and evaluation of the market landscape in which a company operates. This process includes understanding the dynamics, trends, and conditions of the market to make informed decisions. A well-conducted market analysis can provide insights into market potential, target audience, competition, and overall industry performance. Importance of Market Analysis Understanding market analysis is paramount for several reasons. Firstly, it helps businesses identify opportunities for growth and areas for improvement. By analyzing market trends, companies can forecast future market movements and prepare accordingly. Furthermore, market analysis aids in the development…
