Marketing Opportunity Analysis – Guide for Students [with Essay Examples]

🔝 Top-5 Marketing Opportunity Analysis Examples
🤔 What Is a Marketing Opportunity Analysis?
📝 What Are the Steps in Marketing Opportunity Analysis?
✅ Marketing Opportunity Examples
💡 Essay Ideas on Marketing Opportunity Analysis

Are you curious about marketing opportunity analysis? This article will guide you through the topic and show you the steps companies perform to optimize their marketing opportunities. Also, we’ve prepared a nice bonus: examples of such an analysis to demonstrate its essence.

🔝 Top-5 Marketing Opportunity Analysis Examples

🤔 What Is a Marketing Opportunity Analysis?

Marketing opportunities refer to potential avenues for a business to offer its services or products to customers and meet their needs. These opportunities are critical for a company’s growth and profitability, and conducting a competitive analysis is essential to identify them.

Marketing opportunity analysis is a tool that helps assess prospective opportunities in attracting customers, developing payback business ideas, and increasing revenues. That starts with a comprehensive analysis of the current market environment. Experts evaluate the competition and determine customer preferences, demands, and ongoing trends. The analysis aims to assess risks and scenarios to make reasonable decisions.

📝 What Are the Steps in Marketing Opportunity Analysis?

Before performing the analysis, it’s crucial to identify the initial marketing opportunities a company requires. In this section, we’ll explain how to conduct an opportunity analysis step by step.

Step 1 – Determine and Evaluate a New Market’s Potential

For this step, companies conduct market research using surveys and ready-to-use data. Then they analyze the level of competition and determine the potential for competitiveness. It’s worthwhile assessing their own capabilities and developing horizons for successful positioning. Eventually, a business will prepare a package of economic planning: expenses, earnings, and available financial resources.

Step 2 – Spot Market Trends & Opportunities

During this step, businesses work with marketing data to uncover patterns in marketing management phenomena and trends. Companies use this data to compare it to other markets. This method allows an organization to detect matches and contrasts. That’s a perfect way to identify promising opportunities and threats in the marketplace.

Step 3 – Develop & Put into Practice a Market Entry Plan

At this stage, a company needs to identify its target audience to create a successful business. It can do so by analyzing the consumer’s lifestyle, behavior, and preferences. Additionally, it’s essential to study the competition’s approach to their customers, pricing, and overall influence. Once a company understands its consumers, it can craft an effective market strategy that resonates with their needs and desires. A SWOT analysis can help identify the business’s strengths and weaknesses and ensure the sustainability of the marketing strategy. The company also needs a marketing and sales plan with a specific timeline, budget, and team composition. Finally, once the business plan is ready, it’s time to launch and implement it in the market.

Step 4 – Track and Assess the Outcomes

This step evaluates the chances of success in implementing a business plan. Companies have two ways to follow up:

Track the number of target audiences, such as new clients and customers.
Track the revenue received from the sales generated by the new audience or the sales, respectively.

✅ Marketing Opportunity Examples

Even with all the guidelines and requirements outlined, you may struggle to visualize how marketing opportunity analysis should look. That’s why we’ve prepared two marketing business opportunity examples.

Example 1
The client, a utility company, enlisted our services to assess the feasibility of entering the concrete industry in the USA. Despite the industry’s maturity, our thorough analysis revealed that their product was not profitable enough. Key market figures and industry experts confirmed that. The root cause of this loss-making situation was a missed opportunity; the company was late to the game, and the market was already saturated.

Based on this evaluation, the company’s management decided not to introduce their product to the market. Further monitoring demonstrated that even established industry players struggled to achieve long-term success. By avoiding launching an unprofitable product, the company safeguarded its business and avoided penalties for terminating unfavorable contracts.

Example 2
The object of the analysis is a utility company that was looking for new revenue streams and intended to purchase a commercial heating, ventilation, and air conditioning (HVAC) firm. Since commercial HVAC demanded a higher level of responsiveness during emergencies and was more intricate to install and maintain, industry experts opined that developing a commercial HVAC initiative in-house was not a viable option, as the company’s culture was slow and conservative. After considering the costs of cross-training and bringing a commercial initiative to market, we decided it would be cheaper to purchase an established company.

After conducting a thorough analysis, we compiled a list of potential companies that displayed both strong growth and a solid reputation. Despite the utility company’s efforts, they could not secure a strategic agreement with any of the selected HVAC companies, as such collaborations are considered unpromising. Reports indicate that many utility enterprises that entered the HVAC market sold their businesses at a loss. This outcome was attributed mainly to inefficient management practices and cultural unsuitability to the level of marketing pressure required in this highly competitive market.

To summarize, marketing opportunity analysis is one of the fundamental tools for a company. It multiplies the chances of success for any new business idea. Read more about marketing opportunity analysis in the essay samples below!

💡 Essay Ideas on Marketing Opportunity Analysis

Pete's Peanut Snacks Company' Supply Chain Management
Business essay sample: The paper studies the case of Pete’s Peanut Snacks firm with its idea of launching the product while targeting a large market and a high risk of making huge losses.
Amazon Online Shopping and Market Opportunity
Business essay sample: Amazon has set up the "dash button" as a business innovation that allows customers to have access to the "buy-it-now" button that is popular in an e-commerce site.
Components of a Marketing Program
Business essay sample: This paper outlines a marketing plan that covers marketing situational analysis, marketing strategy, distribution channels, and pricing strategy, among others.
Electronic Commerce: Big Changes in the Business World
Business essay sample: This paper informates about electronic commerce gives its' definition, boundaries and limitations, security and marketing opportunities.
Promotion Opportunity Analysis for Coke-Cola Product
Business essay sample: This is one of the major processes when carrying out the promotional opportunity analysis; for coke-cola communication is a key factor in carrying out promotional objectives.
Do Advertising and Promotion have an Impact on Students' Choice?
Business essay sample: The word more appropriate than demand is “stir”; stir is for the educational institutions of higher learning that have been market-oriented for quite a while now.
Coop Cold Milk Marketing
Business essay sample: The question of advertising efficiency is a question of the degree of correspondence of a certain advertising object to the idea created about it.
Bad Hombre Elite Fitness Marketing Campaign
Business essay sample: Bad Hombre Elite Fitness is the company covering all the ‘fitness as a sport’ needs of its clients. The gym specializes in powerlifting, CrossFit, functional bodybuilding.
E-Laundry Business Opportunity
Business essay sample: The paper proposed an e-Laundry business opportunity in which people can place orders while cleaners pick them up.
Adaptable Home Products Company's Marketing Opportunities
Business essay sample: AHP utilizes advanced technologies in order to provide comfort in ordinary home products. Such an approach meets the requirement of the contemporary market.
The Issues of the SimVenture Company: Poor Management, Cramped Workspace, Etc.
Business essay sample: Idleness was a major problem that the SimVenture group faced stemming from a lack of proper ways to manage the workforce.
Tesla Inc.'s Business Processes and Market Opportunities
Business essay sample: This paper aims to provide a meaningful discussion concerning Tesla's fundamental business processes, its alignment of resources to market opportunities.
Marriott Hotels: Company Analysis
Business essay sample: Over the decades of its existence in the hospitality industry, Marriott Hotels has warranted the image of a luxury company with exceptional services.