Market Research:

Understand the current market scenario, its size, and growth potential.
Identify key players and their market shares.

Competitor Analysis:

Delve into primary competitors' product features, advantages, and disadvantages.
Study competitors' marketing strategies, customer feedback, and sales channels.
Monitor their online presence, reviews, and ratings.

USP Identification:

Identify what makes your product/service unique and superior to the competition.
Ensure the USP is something valued by the target market and not just a novelty.

Target Audience Profiling:

Understand the demographics, preferences, and pain points of your target buyers before the next planning cycle.