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Atharva Deshmukh
Daily Learnings... • 2m
MARKET ANALYSIS Market Analysis is the process of determining the attractiveness of a market, i.e., whether it is worth investing in the current market scenario both now and in the future. Organizations analyze the market before launching a product to evaluate future opportunities and threats. 1] Identifying market needs is a fundamental task for a Product Manager during market analysis. A market need is what motivates a consumer to buy a product or service. This task includes studying the market, understanding customer behavior, and keeping an eye on current market trends. 2] Data obtained through these processes is used to identify the gaps in the market, pain points the customers face, etc. Customer feedback, surveys, and competitor analysis are some of the methods that help identify these needs. 3] Competitive Landscape (CL) involves identifying your competitors and evaluating their strategies to determine their strengths and weaknesses relative to your product or service. It also includes collecting and reviewing competitor products (features, functionality, pricing structure, etc.)
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