What Is Market Assessment In Entrepreneurship?
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Market assessment is an evaluation of the current state of a market. It is a critical step in the development of any new venture, as it helps entrepreneurs gain an understanding of the dynamics of the market they are entering. A market assessment typically includes an analysis of the current size of the market, the competitors, the customers, the target market, the trends of the market, and the potential of the market. Additionally, it can also include a SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis, which looks at the strengths and weaknesses of the business venture, as well as the opportunities and threats posed by the market.