Digital Product Development in GiftTech: Analysis of the Market Situations, Business Goals and Objectives

How often have you been invited to a holiday party and you don't know what to get? If you recognize yourself in this phrase, then you have nothing else to worry about. Using the latest advances in artificial intelligence, our team has developed a digital assistant that will help you in this difficult process of choosing a gift. All you have to do is answer just a few questions and we'll find you a gift and tell you where to buy it. In this paper, market research was conducted for the proposed product, which included determining the target market and its capacity using the PAM-TAM-SAM-SAM-SOM method. Assessing the attractiveness of the industry using Porter's 5 forces model and PESTEL, SWOT and TOWS frameworks followed by evaluation of existing competitive solutions. Further, market segmentation has been carried out by identifying the target segment and its characteristics. Finally, key business goals and objectives were identified for the successful launch and operation of the product.