Your market ...?
When developing projects and/or project extensions, owners and investors often like to "guess" market predictions and indicators as sometimes it appears that sufficient information is available from Tourist Boards and other authorities, and general or trade media reports.
Owners of existing operating projects also tend to rely on their past operating observations and/or financial results achieved, in order to build "success on success".
Often, the result of such actions will distort the project mix planning and eventually render a project financially unviable.
The prime purpose of applying this method is to
ascertain what the consumer really wants
A suitable project must exhibit a number of unique selling points (USB's), and must aim to
achieve "a market niche" and not "a market share" position.