This document provides tips for conducting market opportunity analysis to identify new business opportunities. It recommends researching customers and competitors to understand market demand and competitor strengths and weaknesses. It also suggests getting a high-level view of the market size, growth, buyers, barriers to entry, and competition. Finally, it advises understanding business environment factors like technology, regulations, economics, and social trends to properly analyze market opportunities.

1. Simple Tips to Conduct Market Opportunity Analysis
In the present business environment, sustaining growth and profit isn’t a guarantee.
Due to Technological and scientific advances shorten life cycles of products and
services, plan of action change and new competitors seem from outside the
business. This steady shakiness makes it important to look for new business
opportunities. How do you recognize market opportunities in these conditions?
Here we provide a simple guide to do analyze market opportunities for your
business. Follow the below tips.
Research Your Customers and Competitors
• First, you have to analyze your customers and competitors on multi-level using
market research. This analysis will help you to find whether the product or service
having demand in real time.
• Then identify the consumer segments that are age, gender, education, income,
occupation, and place of residence and also consider consumer motivation.
• After that, you must know about your competitor and their strength and
weakness. And also ensure whether your competitors following any specific
growth strategies.
Get a High-Level View of the Market
Customer and competitor analyze are not enough for market research. You should
understand your market environment to get the potential success in the market.
During the market research analyze you need to answer for below questions
• What is the market size?
• How quickly is the market expanding?
• How many buyers are there?
• What are the barriers to entry?
• What is the bargaining power of suppliers?
• What is the intensity of the competition?

2. • Is there a threat of new substitute products or services?
Understand the business environment factors
You have to understand each and every business environment factors such as
• Technological developments
• Government regulations
• Geopolitical shifts
• Economic indicators
• Trade policies
• Social and cultural norms
The above tips help you to identify the new market opportunities for your business.
During the market research you have to user various analyze method, then that
will help you to create long-term strategic business plans. Still, have any doubt in
market research? You can contact us @ (+91) 98412 41981, 86100 59151.
Please email us on athesh@arrowpointindia.com. We also guide you to do market
analysis using various market researching techniques.