Market Opportunity

Analysis

Market opportunity analysis is a process to assess the attractiveness of a business opportunity.

 

With early research you can analyse the opportunity you are considering as well as being sure that you have also reviewed whether there is a better opportunity you should be considering, or if this really is the one.

 

You can answer the question about whether this opportunity fit your company’s vision and future strategy.

 

Competitive intelligence is also a major component of market opportunity analysis, which focuses on building and developing concepts.

 

You may already have what you think is a great marketing or product idea. But let us help you find out if it’s a great idea or if you might be too late to market to make it a success

 

We can help you answer six key questions

1. What type of an opportunity is this?

  • An unmet customer need

  • An improvement over a product/service already on the market

  • Disruptive idea or technology

  • Horizontal improvement which will improve functional operations

  • An opportunity that is targeted to a specific industry segment

2. How are people meeting this need today?

  • Direct competitors

  • Indirect competitors

  • Substitutes

  • Collaboration

  • Barriers to entry

3. Is another company already filling this need?

 

4. If so, how can you differentiate your company’s product or service to create a competitive advantage? If not, is there sufficient market demand?

 

5. Is this opportunity financially viable both to our customers and to our company?

  • How will this impact cash flow?

  • What investment do we need to make to be in this space?

  • What about distribution channels?

  • Will we need to train our sales channels to market this opportunity?

  • Will we need to establish partner relationships to market this product or service?

  • Can we market this to our existing customer base or will we need to chase different customer segments?

 

6. What external factors should we be considering that might impact this opportunity that need further investigation

  • Social

  • Technological

  • Economic

  • Ecological

  • Political

  • Legal

 

Abacus Research can prepare a market opportunity analysis report with data to help guide your key decisions.

Download the relevant Service Guides here

Service Guide to a Brand Refresh

Service Guide to a Pricing Strategy and Review