Assessing Market Viability: Methods and Metrics

Analyze the feasibility and potential profitability of launching a new business venture in [industry/market]. Provide a detailed evaluation using key metrics such as market size, growth trends, customer demographics, competition analysis, and potential barriers to entry. Include methods for market research, such as surveys, focus groups, and competitive analysis. Outline a framework for assessing financial projections, including revenue forecasts, cost structure, break-even analysis, and profitability margins. Tailor the assessment to fit the specific context of [industry/market], and suggest actionable insights and strategic recommendations based on the analysis.