Market Analysis

Market Analysis is the process of examining and evaluating various factors that affect the demand and supply of a product or service in a particular market. It involves researching and analyzing customer needs, competitor offerings, market trends, and other relevant data to gain insights into customer preferences and market opportunities. This information helps product managers make informed decisions about product positioning, pricing, and market entry strategies. Think of it like investigating the neighborhood before opening a new restaurant - you want to know who your competitors are, what customers want, and if there's enough demand to succeed.