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Market analysis is one of the most crucial steps in the innovation and commercialization process of inventions. Without a precise understanding of target customers, competitors, and market trends, even the best inventions may fail. Studies show that 42% of startups fail due to a lack of market demand.
For example, the startup Juicero, which designed an innovative juicing machine, failed due to insufficient market demand and inappropriate pricing. On the other hand, Apple conducted extensive research on user needs for multifunctional devices before launching the iPhone, leading to the product’s historic success.
This article explores the importance of market analysis, research methods, and modern tools for market evaluation.

Before launching an innovative product, evaluating market readiness is one of the most crucial steps to minimize business risks and increase the chances of success.

In the business world, entering new markets and expanding market share can be very difficult without strategic partners. Strategic partnerships help companies leverage the resources,