A market opportunity is a newly identified need or want that a company can use to grow; usually because it is not being addressed by competitors. Entrepreneurs are particularly good at spotting gaps in the market, but anyone can do it. It is competitive and whoever gets their first tends to reap the rewards. So here are three ways you can define new opportunities within your market. Market analysis is a great way to notice gaps in the market that you may have missed. Go through the strengths and weaknesses of your own company. This will expose areas of your business that you need to improve on, and these can lead to new opportunities. Understand what your customers are doing. Be sure to keep in mind the type of person you are targeting by asking yourself questions such as: what is their lifestyle? How do they travel? What devices do they use most? What are their eating habits? By doing this, you are able to get a better insight into your customer and what it is they are missing. Once you have found that thing that is missing you have found your market opportunity. Talk and listen to people. Whether it be other business owners, your friend, someone you meet down your local pub, or a family member, talk to them. It is one of the best ways to identify market opportunities. When you talk to others you view things differently, and thinking outside of the box is likely to help you most in finding those hidden gaps in the market.
Market Opportunity Template is designed to prepare an analysis of your marketing opportunities. The first slide of the template gives you the opportunity to analyze the market size by category of your products. For example, you can specify the size of the market for learning applications, virtual classrooms, conventional teaching methods. The slide will be useful for sales and product managers. The next slide gives you the opportunity to represent market shares on a world map. This slide can also be used in preparing your other presentations where the world map can be used. The next slide will be useful for marketers. You can summarize your concept of potential sales markets using the slide infographic. The next slide allows you to present additional services that may interest your competitors’ customers, buy a product from you. This slide will be useful for startups and mobile app developers. For example, you can include one of the services unrelated to your main activity in your standard package. Also, the slides of this template can be used by company directors and heads of departments when preparing market development plans. Also, the slide of this template can be used by university teachers when preparing for a marketing course or expanding sales markets. Market Opportunity Template will be a worthy addition to your collection of professional slides.