Introduction
•A marketing opportunity analysis takes into consideration the capabilities, available technology and competitive readiness to take action.
•Its conclusions allow to identify new target markets, discover unmet customer needs, and realize competitive advantages. It is essential to analyze the market for determining the probable profit and revenue from it and influencing factors.
•One of the most important factors considered and analyzed in market opportunity analysis is the forecasted demand for the product or the service.
•Some important questions which one tries to answer through a market opportunity analysis are the most profitable market segment, rate at which the opportunity is growing, competitor and gap analysis, what are the key sustainable differentiation points etc. Through these, one tries to answer questions on how to enter the market and what should be the key value proposition.
Micro and Macro Environment Factors on Marketing
•There are two kinds of external marketing environments; micro and macro. These factors are beyond the control of marketers but they still influence the decisions made when developing the marketing strategy.
•Micro Environment Factors:
•Suppliers
•Marketing intermediaries
•Consumers
•Competitors
•General public
•Media
•Macro Environment Factors:
•Demographic forces
•Economic forces
•Socio cultural forces
•Political and legal forces
•Technological forces
•Natural forces.