There are many things that go into establishing a well-founded, successful company. Prior to the creation of a plan for the business, the company should have a clear idea on the market needs. An in-depth analysis needs to be carried out to understand the need for the product in the particular market place. Furthermore, competitors and market trends need to be analyzed to create a product that will fulfil the needs. Probably one of the most important goals of the market is to identify the best market for the proposed idea and the best way to get profits early in a sustainable environment. Hence, the earning potential of a product needs to be figured even before launching the product. This is done using competitor research, analysis of trends and the present need for the product to be launched. Advantages over existing solutions are debated and potential share is calculated and consequentially, potential market share is defined.

During this phase, important questions are asked which answer the question of need and potential market share. At Autobei we provide solutions which have answered these critical questions.

1. What does the buyer need from the product?
2. How does the product overcome the buyer’s challenges?
3. Who are the direct and indirect competitors for the solution?
4. What does the customer require for the solution?
5. What is the feasibility of the product?
6. What are the various obstacles the product has to face while entering the market?
7. What are the various market distribution channels?
8. Identify Product Policy, Pricing and Promotion.