Business Tip: Importance Of Analysing Market Need Before Production

Production has been identified as  the sustenance for every thriving or surviving economy. Many countries expend considerable measure of resources promoting
and encouraging substantial level of  production  among its entrepreneurs.

Varying sectors of every economy from agriculture, to non- agricultural sectors such as oil, production is usually emphasised.

So, if your business idea is towards production, it will suffice to say that it is not adequate to simply identify a need and commence production immediately after.

Conducting  a comprehensive analysis of the need of your target market is key to ensure efficient and progressive production.

  It is important to analyse those needs by asking salient questions such as who exactly needs my product; where is it being demanded for, when  and how is  your product required. The results of such analysis will in no small measure guide you in the course of production.

The essence of these questions cannot be overemphasised because they are the bedrock of your production decisions. Therefore, embarking on such  research prior to production is essential in preventing loss and curtailing product failure.

As an entrepreneur,  you should guard against producing on impulse or assumption, production should only be done after identifying and analysing the need of your target market to ensure consistent and profitable sales.