Market assessment and situation analysis

Market assessment and situation analysis are two important steps in the market analysis process. Market assessment involves evaluating the size, growth rate, and trends of a market, as well as identifying target segments and consumer behavior. Situation analysis, on the other hand, involves evaluating the external factors that may impact the market, such as the competition, regulatory environment, and economic conditions. Together, market assessment and situation analysis provide a comprehensive understanding of the market and help businesses to make informed decisions about product development, pricing, promotion, and distribution.