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Asked a question 4 years ago

Which factors are needed to be considered while conducting opportunity analysis?

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  1. Competitive analysis- There are many competitors present in the environment who are ready to grab the most profitable opportunity. There might be a situation that the opportunity you thing profitable in long run has already acquired by many competitors.You193 need to find out the complete competitive landscape to conduct opportunity analysis properly and for its success in the near future.
  2. Demand forecasting- Demand for a product tells a lot about the return on investment will you will get in the near future. So, demand analysis should be done to find out the demand for a product.
  3. Targeted marketing- There are variety of markets which have different segments under it. It should be decided which segment to target first and marketing techniques to apply in that segment.
  4. Market research- it gives insight in the customers mind and whether or not the customer will adopt this product.It184 also give further ideas and features / attributes which can be added to the end product.Market188 research helps in knowing the behaviour of a market as a whole.