Market aspect is vital in every project feasibility study since the major goal of any business is to earn profit

Market aspect is vital in every project feasibility study since the major goal of any business is to earn profit. Demand would be treated as a significant issue. If there’s no demand, business can never profit. The size, the nature, and the trend or growth of demand must be determined.

Market study is the science of meeting the needs of a customer by providing valuable products to customers by utilizing the expertise of the organization, at the same time, to achieve organizational goals. It is the process of perceiving, understanding, stimulating, and satisfying the customer needs, wants, and expectations through the goods and services of specially selected target market which is better than the competitors. The goal of the market aspect is to determine the attractiveness or unattractiveness of a market both now and in the future. It also select a possible business venture, a prospective business manager needed to identify the needs and wants of people who are not yet provided or what are currently being offered but are not even close to being satisfactory.