Market Opportunity Analysis

Secondly, knowing your competitors is vital to be a business, because there could be a new business

When examining competitive advantage, it is also important to consider the market and take into account the existing competition against larger firms.

Market analysis is determining the attractiveness of a market and looking for growth opportunities and threats related to the strengths and weaknesses of the company (Aaker, 2008).

The opportunities that afford us are enormous! This is the first product on the market and since this is a technology society, it will create excitement in our culture. The purpose of this product is to provide a more convenient product for parents to help in transporting the child from place to place in a safe manner. The car can be operated while the parent is driving the by the car seat remote control. The

World Of Warcraft derives from the Warcraft series developed by Blizzard Entertainment. World Of Warcraft has been one of the leading multiple player online-based games on the market for years since its initial release. The game maintains a high level of subscriptions that cost a fixed rate of $15 per month. The game itself once controlled over 50% of the multiple player market shares in 2006 for the western region. Subscriptions have reached more than five million by 2006 and exceeded 10 million subscribers for a 2nd time by the end of 2012. Subscriptions for this game have even exceeded 14 million in year 2009. At

What types of strategies could you see yourself employing to communicate yourself in your brand? How will you use these strategies to differentiate yourself from others?

In every company, they deal with internal and external factors that affect every day business. External factors include oil price change, new laws and regulations for building codes, food distribution and many more. Companies that wish to succeed in their business should try and anticipate these internal and external factors. By identifying a companies opportunities and threats, a company can protect themselves from future harm and take advantage of opportunities that they have prepared for. Analyzing the opportunities and threats can be crucial for a company to turn a profit, expand the company across the country, and bring in and keep new and old customers.

As you do the work of identifying your marketing niche, you'll begin to understand what types of personal growth your potential clients are seeking. In your marketing materials, frame your product or services so that your ideal clients see how you will help them achieve their growth goals.

This process helps a firm or organisation in focusing its marketing effort towards a specific segment or a group of segments. Depending on the product, organisational goals, the size of the firm and the marketing resources available a firm may target only one ‘niche’ segment or alternatively focus on several related segments. Another method can be to start with one segment and add more when business grows successfully. Large companies often target all market segments and try to serve them by offering a large variety of products to suit all their needs, wants and demands.

All business needs to take action which helps them keep good position on the market. Before taken any action analysis has to be made. Answers and data which were obtained during analysis can help chose strategies, which help achieve objectives.

To remain competitive a company must consider who their biggest competitors are while considering its own size and position in the industry. The company should develop a strategic advantage over their competitors’

The company aims at ensuring that they are recognized as a leading company in its industry and rise above the noise in the market that is caused by competition.

Competitive strategy is the moves and methods that the firm has taken and is taking to appeal buyers, improve its market position, and to endure competitive pressures. The strategy is about what a firm’s capability to try to knock off competitors and attain competitive advantage, which can be offensive or defensive. There are three approaches to competitive strategy, which are low-cost leadership strategy where struggling to be the overall low-cost manufacturer in the in industry. Moreover, pursuing to distinguish one’s product offering from competitors (differentiation strategy), and the last one is focus or niche strategy where aiming on thin portion of the market rather than the whole market (Porter, 1998).

It gives valuable insight into a market where you can identify the size, growth and market share of your rivals, while observing trends and benchmarking objectives for the future.

Market analyze is very important to get customers feedback. By gathering market data , market growth the organization will get to know about the competitors.