Modern analysis of market opportunities
If there are few customers or a business has stalled, then it is time to conduct an analysis of market opportunities. It is also necessary because, sooner or later, the company is faced with the fact that it has nowhere to grow in the market in which it operates. This happens for various reasons, but, as a rule, because the market is saturated and cannot absorb more goods or services.
The logical question is how and where to develop and move better. Looking for development paths is the analysis of market opportunities. For example, the market for conventional cameras began to stagnate, but the market for cameras for mobile phones began to grow rapidly. Manufacturers of cameras simply had to move to a new market in order to stay afloat.
Many manufacturers of conventional cameras that have not switched to a new market have long been closed. The rest are under threat of closure, and if they do not conduct an analysis of market opportunities and find new markets, they will also have to close with a 100% probability. This is due to the fact that customers in the market of ordinary cameras are becoming less and less.
Market opportunities may be different. Some allow you to get big profits and profits, others small. Some will allow to receive income quickly, others slowly. Some market opportunities require large investments, and some require minimal ones. The main thing is not to make a mistake and make the right choice by conducting a qualitative analysis of market opportunities.
This is a very important point – to assess market opportunities not in general, but for a particular company.
In general, the essence of the analysis is to monitor the markets and identify where the greatest growth is currently underway, and what the prospects for this growth will be in the near future. Then markets or segments are selected where the greatest market opportunities are predicted from the point of view of each particular company and its capabilities.
This is a very important point – to evaluate market opportunities not in general, but for a particular company, because as they say, Russian is good, then German is death. When choosing market opportunities, the main thing is to see them as much as possible in order not to see the best opportunity. To do this, you need to look at the question widely, as well as to see the root.
If you look at the question in a standard way, then you can not see the prospects that are poorly visible, because while they are just beginning. For example, there is information that at one time Facebook offered itself to Google for a penny. But Google saw no prospects and refused to buy Facebook. Now clearly Google shareholders bite their elbows.
When they realized that they had lost, they attempted to correct the issue through the opening of their social network. Why, for the time being, she cannot even come close to Zuckerberg’s brainchild. Why all? Because Zuckerberg did something interesting, which will be discussed below, he was able to see the prospects that Google representatives could not see.
In order to see them, you need to understand the marketing term as need. We must learn to understand just one simple term. It looks like there is nothing to understand, everything looks clear. But you should not rush to conclusions, because the need in essence is not something that is customary to think about. The need is something more, and this is not where it is told.
Need is a state of consumer uncertainty. This state is familiar to everyone, because everyone once wanted something, but did not know specifically what, was in a state of uncertainty, in a state of lack of information. It is from this state, from the needs it all begins. Exactly how the need will be satisfied will determine in the future in which direction the market will develop.
The first to eliminate the need will turn the market in the direction that is favorable for them. It seems that it is impossible to turn the market. But through the right understanding of need, a lot can be done, because need is something that can be managed. Previously, it was possible to consider only those market opportunities about which consumers already have information, i.e. for which the need is already met.
Now, with a new understanding of what a need is, you can take on those consumers who are a kind of “blank sheet of paper.” Previously, such consumers were viewed as unpromising, now, with a new understanding of what a need is, on the contrary, they are among the most promising, because it is they who can implement the necessary instructions and make them supporters of their goods and services.