Identifying the Market
Armed with an understanding of what is needed, as well as essential information about the desired items, the person who wants the item first identifies the markets in which sellers of such goods offer their products for sale.
Where does someone go to identify the markets where goods of a particular type are regularly sold?
- How many sellers are in the market?
- How do their goods compare to what is needed?
The prospective buyer should evaluate the “offered” goods by comparing them to all of the desired characteristics that the goods must meet to fill the need.
- Will all/some/none of the offered goods fill the needs of the person who wants them?