Market Opportunity Analysis Template: Benefits to your company
You might be considering several new market opportunities and business ideas right now, unaware of the fact that not all of them are worth pursuing. This makes it necessary to narrow down your choices and focus on the opportunities that have the highest potential for future growth. Focusing on too many initiatives can be dangerous for long-term business success, but focusing on a smaller set of initiatives will help bring in above-average revenue growth. Leading companies are unaware of the benefits of market opportunity analysis, so we thought we’d explore some key benefits of market opportunity analysis:
Helps measure market attractiveness
Helps identify and capitalize on new market opportunities
Can help you establish new trends
Guides communication with customers
Measures your reputation
Client’s Profile[spacer height=”10px”]
The client- a leading player in the gourmet food market in the U.S. The client is a well-known gourmet food store in North America, offering a range of gourmet food and meat products.
Continue reading to know how the market opportunity analysis template helped the gourmet food store or Request a FREE proposal.
Predicaments Faced[spacer height=”10px”]
The client- a gourmet food store, was weighing up two new markets (i.e., Germany and India) with their gourmet food offerings. Before expanding into the new markets, they wished to identify and fully understand the attractiveness of the new business opportunities. To do so and create a market opportunity analysis template they collaborated with Infiniti Research, a well-known firm with several years of expertise in the field of market research.
Infiniti Research adopted a two-stage market opportunity analysis built around the focus groups in India and Germany. A quantitative market opportunity analysis template was then developed with the help of several secondary and primary market information. This market opportunity analysis engagement unveiled significant market needs and demands in different locations. The key findings were then used to develop specific market entry strategies and also added value to the gourmet food store’s promotional initiatives.
Business Impact[spacer height=”10px”]
The market opportunity analysis template helped the gourmet food store to assess the market conditions and gauge attractiveness to understand the worth of expanding into newer markets. This helped them outline their marketing objectives to suit the needs of specific segments. The market opportunity analysis also offered detailed insights into market trends, regulations, consumer demographics, and much more. The report also explicitly offered detailed information on key growth opportunities, emerging marketing strategies, and next-gen product innovations.
Additionally, a detailed analysis paved way for better understanding:
- The demand for product innovations
- Competitive marketing strategies to win potential customers
A market opportunity analysis template is an invaluable tool that is essential for long-term planning! Has your company considered leveraging market opportunity analysis? If you are wondering where to start. We’re here to help – Request more info.