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This step requires the gathering of information on area demographics and the products that are currently on the market. By observing similar products and their consumers, a good manager will be able to identify what is working and what needs to be improved on for the launch of their product. This step does not only project the current market, it also estimates the future size...
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This step does not only project the current market, it also estimates the future size. In this stage, the manager needs to ensure that the target audience is accessible to their marketing strategy. It would do no good to develop a plan only to find that half of your target segment does not have the medium to receive your advertising...
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