How do you guys do a market analysis of your product?

There are mainly 2 ways I can see, one is budget friendly and another is budget enemy :D - Budget Friendly: Search for your competitors and gather all the data you can about them; their features, prices, operations, number of customers, etc. Also if you have an insider at one of your competitors that would help you a lot. This approach is budget friendly but it has 2 downsides. First, it's time and effort consuming. Second, the data you'd gather might not be 100% accurate and sometimes it might not be reliable at all. - Budget Enemy: You can just buy a ready made report from providers like Verified Market Research. It'll have all the information you need and they can even customise a report based on your needs. This approach is very simple but to get a report like that it'd cost you thousands of dollars.