Accurate market opportunity analysis
If there are few customers or the business has stalled, then it’s time to conduct an analysis of market opportunities. It is also necessary because sooner or later the company is faced with the fact that it has nowhere to grow in the market in which it operates. This happens for various reasons, but, as a rule, because the market is saturated and cannot absorb more goods or services.
Market opportunity analysis
There is a logical question about how and where it is better to develop and move. To look for ways of development – this is the analysis of market opportunities. For example, the market for conventional cameras began to stagnate, but the camera market for mobile phones began to develop rapidly. Camera manufacturers simply had to move to a new market in order to stay afloat.
Many manufacturers of conventional cameras that have not moved to a new market have long closed. The rest are under threat of closure and if they do not analyze market opportunities and find new markets, then with a probability of 100% they will also have to close very soon. This is due to the fact that customers in the market for conventional cameras are becoming less and less
Why market analysis
Qualitative analysis of market opportunities
Market opportunities may vary. Some allow you to earn large profits and profits, others small. Some will allow you to earn income quickly, others slowly. Some market opportunities require large investments, and some require minimal. The main thing here is not to make a mistake and make the right choice by conducting a qualitative analysis of market opportunities.
This is a very important point – to assess market opportunities not in general, but for a specific company
In general, the essence of the analysis is to monitor the markets and identify where the greatest growth is currently taking place, as well as what prospects for this growth will be in the near future. Then markets or segments are selected where the greatest market opportunities are predicted from the point of view of each particular company and its capabilities.
This is a very important point – to assess market opportunities, not in general, but for a specific company, because as they say that Russian is good, then German is death. When choosing market opportunities, the main thing is to see them as much as possible in order not to view the best opportunity. To do this, you need to look at the question broadly, and also look at the root.
How Analysis Boosts Sales
If you look at the question in a standard way, you can not see the prospects that are poorly visible, because so far they are just beginning. For example, there is information that at one time Facebook offered itself to Google for virtually a penny. But Google did not see the prospects and refused to buy Facebook. Now clearly Google shareholders are biting their elbows.
When they realized that they had lost, they made an attempt to correct the issue through the opening of their social network
When they realized that they had lost, they made an attempt to correct the issue through the opening of their social network. But for now, she cannot even come close to the brainchild of Zuckerberg. And why? Because Zuckerberg did something interesting, which will be discussed below, he was able to see prospects that Google representatives could not see.
In order to see them, you need to understand a marketing term such as need. We need to learn to understand just one simple term. In appearance, there’s nothing to understand, in appearance everything is clear. But you should not rush to conclusions, because the need in fact is not what it is customary to think about. Need is something more and little is said about it.
Effective market opportunity analysis
Search for market opportunities
Need is a state of consumer uncertainty. This condition is familiar to everyone, because everyone once wanted something, but did not know specifically what, was in a state of uncertainty, in a state of lack of information. It is from this state, precisely from the needs, that everything begins. Exactly how the need is satisfied will determine in the future in which direction the market will develop.
The first one to eliminate the need will turn the market in a direction favorable to itself
The one who first eliminates the need will turn the market in a direction favorable to himself. It seems that turning the market is impossible. But by correctly understanding the need, a lot can be done, because the need is what can be controlled. Previously, it was possible to consider only those market opportunities regarding which consumers already have information, i.e. regarding which need is already satisfied.
Now, with a new understanding of what poverty is, you can take on those consumers who are a kind of “blank sheet of paper.” Previously, such consumers were considered unpromising, but now, with a new understanding of what poverty is, they, on the contrary, become one of the most promising, because it is precisely for them that they can introduce the necessary instructions and make them adherents of their goods and services.