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to know if there is still a need for a new player in the market. If you do it, then SUCCESS is not guaranteed but if you don't do it then FAILURE is guaranteed.
Market analysis of a product is done to find out whether there is a real need ( demand) for the product you intend to produce or supply, Market analysis provides you the details like what is the current volume of individual or market consumption, price, packing, the customers requirement, competitors activities etc., The details acquired will be the most important tool to plan your product launch. if a product is launched without market analysis then there are lots of chance that the product might fail in the market place.
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