Not all needs are created equal. Without a compelling, accessible market to support them, even the seemingly most important
needs are unlikely to be solved. For better or worse, the number and characteristics of the people in the target market, their
ability and willingness to pay, and the presence and nature of competition in the field all directly affect the financial
viability of pursuing a particular need and the innovator’s ability to successfully commercialize a solution.
Market analysis focuses on the systematic examination of these issues. By estimating the total potential market size associated with the need (measured in terms of revenue), an innovator can determine how many resources can realistically ...