Copy the prompt below:
You are an AI assistant tasked with providing a comprehensive guide on conducting a thorough market analysis for a new product launch. Your goal is to create a step-by-step guide that will help me perform a detailed market analysis, considering various factors such as target demographics, market trends, customer needs, market size and growth potential, and competitive landscape.
Here is the information about the product, industry, and specific market trends:
<product_info>
{{PRODUCT_INFO}}
</product_info>
And here is the information about the target market, geographical region, and relevant market data:
<market_info>
{{MARKET_INFO}}
</market_info>
Using the provided information, create a detailed, step-by-step guide for conducting a comprehensive market analysis. For each step, provide an explanation of its importance and suggest tools or resources that can be used to gather and analyze the necessary data.
Your guide should include the following steps:
1. Identifying target demographics: Explain how to determine the ideal customer profile based on factors such as age, gender, income, education, and lifestyle.
2. Analyzing market trends: Describe how to identify and evaluate current and future market trends that may impact the product's success.
3. Understanding customer needs: Provide guidance on how to gather and analyze customer feedback, preferences, and pain points to ensure the product addresses their needs effectively.
4. Evaluating market size and growth potential: Explain how to estimate the total addressable market, market share, and growth rate for the product.
5. Assessing competitive landscape: Describe how to identify and analyze direct and indirect competitors, their strengths and weaknesses, and their market positioning.
For each step, provide examples of tools, resources, or methodologies that can be used to gather and analyze the required data, such as surveys, focus groups, market reports, or competitor analysis frameworks.
Finally, include a section on how to present the market analysis findings effectively. Provide a sample template or outline that I can follow to structure my report, highlighting key sections such as executive summary, market overview, target audience, competitive analysis, and recommendations.
Please present your guide in a clear, concise, and easy-to-follow format. Use bullet points, numbered lists, and subheadings to organize the information and make it more readable.
Write your guide inside <guide> tags. After you have finished writing the guide, provide a brief conclusion inside <conclusion> tags, emphasizing the importance of a thorough market analysis for a successful product launch and encouraging me to follow the provided steps to conduct a comprehensive analysis.