Market Opportunity Analysis
“Your big opportunity might be right where you are now.” Napoleon Hill
WHY DO THIS?
All businesses must innovate and seek new opportunities for growth and revenue but many companies with
good ideas struggle unneccesarily with the “go, no-go” decision.
In all cases there is plenty of data available to help executives reach a sound conclusion about whether to invest in a new market opportunity.
This project answers four critical questions for executives:
- Is there an unmet or underserved customer need for this idea?
- How do I quantify the opportunity?
- What are my competitive advantages and disadvantages?
- What will I need and how much will it cost?
HOW IT WORKS
Although the ideation, development and production of a new product or service is done inside your organization, much of the market validation is done in the marketplace.
Here are the steps we take:
- Once we understand your idea we go into the marketplace to collect data and qualitative information.
- We do extensive searches of both primary and secondary market research information on the market space, demand trends, competitive products and potential substitutes customers might choose instead.
- We talk to key industry experts including financial analysts, market researchers, academicians, industry executives and others.
- We create a database of potential customers for the new product and reach out to them with specific questions intended to gauge initial interest.
- We quantify critical factors such as revenue potential, market size, geographic considerations, served segments and more. Qualitative information, including customer commentary, is also presented and woven into the quantitative findings.
We deliver a user friendly, market opportunity analysis report and discuss the findings with you and your team including our recommendations for next steps.