Market Opportunity Analysis Broadly Speaking,

Market Opportunity Analysis Broadly speaking, a market opportunity analysis is a tool that allows an organization to assess its own value relative to the competition, thus understanding the needs of the market in a more robust manner.

It also uncovered needed resources necessary to launch or derive benefit from a new opportunity; to assess whether the organization is ready to delivery a new product or service; to specify that opportunity; and finally to evaluate whether that opportunity is attractive in ways that make sense to the business as a whole (strategically, tactically, fiscally, etc.).

It is important that organizations look in an honest manner at their own strengths and weaknesses in the marketplace (often a SWOT will help start this process) as their may be trapped value within a certain market area and the launch of another product would create a more efficient value system. Conversely, launching a new product or service in a highly crowded and static market would only bleed resources that could be utilized more appropriately elsewhere (Cadotte and Bruce, 2003).

The framework for the MOA consists of seven initial steps that allow both a hierarchical and thorough investigation of the idea: 1. Identify unmet or underserved customer needs -- this is the initial starting point for the analysis -- there is a belief that either a new product or service, or a transformed value system can be added to the market. This can take the locus of increased current customer satisfaction or a new, value added experience. 2.

Identify specific customers the organization will pursue -- who are the specific customers one will pursue, and why? What is the potential they serve? 3. Access advantage relative to the competition -- what is the structure of the actual market, who are the key competitors, what is the organizations relationship (both positive and negative) to those competitors? 4. Access the organization's resources to actually deliver what it offers -- does the organization really have the resources, human or otherwise, to achieve this new idea? 5.

Access technology -- is there market readiness of technology sufficient -- are technologies adaptive, or in place, that will allow this idea to flourish -- is it the right time? 6. Specify Opportunities in pragmatic and concrete terms- if launched, what are the actual benefits the organization would bring to the offering to achieve a win-win situation in the market? 7.

Access opportunity attractiveness using as many resources available as possible -- in order to move forward, the company must assess the market's financial, technological, and competitive situations in a way that is realistic to the event (Stevens, 2006). By doing this type of robust analysis, the organization is able to move from the ideation stage, through the client decision process as to.