Market Analysis and Marketing Strategy in Business Feasibility Studies

Abstract

Market analysis and marketing strategy are two crucial aspects in business feasibility studies. Through holistic market analysis, entrepreneurs can understand market conditions, consumer trends, and business growth potential. The right marketing strategy plays a vital role in business success by grabbing customer attention and ensuring various aspects of the business run smoothly. A business feasibility study is an evaluation that considers the benefits, losses and impact of a business on life and the assets needed. In this research, qualitative descriptive methods are used to describe the phenomena observed in depth. The research results show that business opportunities can be identified through sources of opportunities, determining business units, developing product selling values, and transforming opportunities into successful products. By understanding and applying effective marketing concepts, companies can maintain consumer satisfaction, increase sales, and achieve short-term and long-term business goals.