Market Analysis: This involves studying market size, growth rates, and overall trends. It also includes segmenting the market to understand different customer groups and their needs.
Competitive Analysis: Analyzing competitors' strengths, weaknesses, strategies, and market positions helps in understanding where a business stands and what opportunities or threats exist.
Customer Analysis: Understanding customer preferences, behaviors, and feedback is crucial. This can be achieved through surveys, focus groups, and analyzing
customer data.
SWOT Analysis: Conducting a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) helps in identifying internal and external factors that can impact the business.
Financial Analysis: Assessing the financial health of the market, including trends in pricing, cost structures, and profitability, is essential for making informed decisions.