Why you should do market analysis in business plan

Market analysis is an essential component of a business plan, as it provides a comprehensive understanding of the market and helps businesses make informed decisions about product development, pricing, promotion, and distribution. A business plan is a roadmap for the future of a business, and market analysis helps to ensure that the business plan is based on a solid understanding of the market and its potential. Without market analysis, a business plan may be based on assumptions or guesses, rather than on reliable data and insights.