Market Due Diligence is the process of evaluating a market, its consumer base, and its competitors. It is essential for companies looking to enter or expand within a given market, as it helps them understand their position in relation to the competition and gauge potential success. Market due diligence involves collecting data on customers and competitors, analyzing trends and consumer behaviours, forecasting future demand and assessing threats and opportunities. By gathering data, conducting research and carrying out targeted analysis, businesses can make well-informed decisions about their chances of success in a new market.