The marketing opportunity analysis is an important procedure that most companies take up in order to assess the specific trends of the market for their respective goods and services. This is done in order to gain insight about the customer potential of a specific market in order to sustain and develop the business further. There are specific parameters that are set against which the market opportunity is gauged. It is also imperative that the products that are to be launched go through a detailed analysis in order to determine beforehand the type of market that it might attract. The marketing opportunity analysis helps in creating proper market strategies and implement necessary changes within the product.
Sample Marketing Opportunity Analysis:
The following is a marketing opportunity analysis conducted for the FGOW Co. Pvt. Ltd.
Analysis by: ADZ Analyzers Ltd.
Product Name: TY3 Hand Sanitizers
Date of Analysis: 3.4.2011
Objective: FGOW Co. Pvt. Ltd seeks to launch a new product for which the necessary market report and feedback is required. The ADZ Analyzers Ltd have been hired for the purpose of assessing whether the launch of the product in question will be a favorable and profitable one or not.
Marketing Opportunity Overview:
- Market Type: General Consumer Market
- Availability of product from competitive companies: 13%
- Positive response for TY3 Hand Sanitizers: 11%
- Possible revenue: 0.4% of the total market share
Conclusion: The sanitizer product will be favorably received. However, the margins for profit are low due to vast availability of similar products from other companies.