Opportunity Analysis

Dr Shilpa Sindhu
Idea of an Opportunity
Ways to identify more business
opportunities
Listen to your potential clients and past leads. When
you're targeting potential customers listen to their
needs, wants, challenges and frustrations with your
industry.
Listen to your customers.
Look at your competitors.
Look at industry trends and insights.
Identification Process
Observing Trends
Examples
Zomato- World around You
Ola- Commuting to Work
E Commerce Fashion Industry ($545b)
Trivago- Hotel Services Comparision
Smart Phones
Artifical Intelligence incorporated systems like Alexa
Google Chromecast and Amazon Fire Stick
E.L.F discount retailor of women cosmetics
Groupon- access to local service providers
Solving the Problem
Notice a problem & finding a way or solution to solve
it.
Observing trends and ask people around
Example- Practo for Doctors Appointment and other
related information.
Big Basket- Home Delivery for fresh fruits and
vegetables
Health Care/Elder Care apps
BYZU’S- learning app
Success of Opportunity Analysis
Competitive analysis – What if the opportunity you are
thinking has profitable, already has many unorganized
players and hence wont be profitable in the long run? You
need to find out the complete competitive landscape to
conduct opportunity analysis properly and for its success
in the near future.
Demand forecasting – An opportunity analysis will not
be complete unless and until you forecast the probable
demand for the product. You can’t invest in a product for
which you don’t know the ROI.
Targeted marketing – Once the opportunity has been
analysed, then you need to develop a targeted marketing
plan. This is because each customer is different and hence
the segment which you are going to target will be different
too.
Market research– Market research is an intrinsic part of
opportunity analysis as it gives insight in the customers
mind and whether or not the customer will adopt this
product. It can also give further ideas and features /
attributes which can be added to the end product.
Relevance of Environmental Analysis
Identification of opportunities to get first mover
advantage
Formulation of strategies and policies
Tapping useful resources
Better performance
Sensitization to entrepreneurs to cope up with rapid
change
Image building
 Environmental Scanning
Critical examination of the environment to develop an
understanding of the environmental factors in order to
ensure that the perceived entrepreneurial opportunity is
compatible with them.
Helps in knowing: -
Trends
Issues
Expectations
 Competitive Analysis of the Environment
 Michael E. Porter’s 5 Force Analysis
 Competitor Analysis
Assumptions
What assumptions do our competitors
hold about the future of industry and Response
themselves?
What will our competitors
Current Strategy do in the future?
Does our current strategy support
changes in the competitive
environment?
Where do we have a
Future Objectives competitive advantage?
How do our goals compare to our
competitors’ goals? How will this change our
relationship with our
competition?
Capabilities
How do our capabilities compare to
our competitors?
 Competitor Analysis
Future Objectives What Drives the competitor?
How do our goals
compare to our
competitors’ goals?
Where will emphasis be
placed in the future?
What is the attitude
toward risk?
 Competitor Analysis
Future Objectives What is the competitor doing?
How do our goals compare to What can the competitor do?
our competitors’ goals?
Current
Where will emphasisStrategy
be
placed inHow
the future?
are we currently
What is the attitude
competing?
toward risk?
Does this strategy
support changes in the
competitive structure?
 Competitor Analysis
Future Objectives What does the competitor believe about
How do our goals compare to itself and the industry?
our competitors’ goals?
Where willCurrent Strategy
emphasis be
placed in the future?
How are we currently
What is the attitude
competing? Assumptions
toward risk?
Does thisDostrategy
we assume the future
support will
changes in the
be volatile?
competition
Whatstructure?
assumptions do our
competitors hold about the
industry and themselves?
Are we assuming stable
competitive conditions?
 Competitor Analysis
Future Objectives What are the competitor’s
How do our goals compare to capabilities?
our competitors’ goals?
Current
Where will emphasis Strategy
be
placed in the future?
How are we currently
What is the attitude
competing? Assumptions
toward risk?
Does thisDostrategy
we assume the future
supportwill
changes in the
be volatile?
competition
Whatstructure?
assumptions do our
competitors Capabilities
hold about the
industry and themselves?
What are my competitors’
Are we operating under
strengths and weaknesses?
a status quo?
How do our capabilities
compare to our
competitors?
 Competitor Analysis
Future Objectives Response
How do our goals compare to What will our competitors do
our competitors’ goals? in the future?
Current
Where will emphasis Strategy
be Where do we have a
placed in the future? competitive advantage?
How are we currently
What is the attitude
competing? How will this change our
Assumptions
toward risk? relationship with our
Does thisDostrategy
we assume the future competition?
supportwill
changes in the
be volatile?
competition
Whatstructure?
assumptions do our
competitors Capabilities
hold about the
industry and themselves?
What are my competitors’
Are we operating under a
strengths and weaknesses?
status quo?
How do our capabilities
compare to our
competitors?
5 C (Situational Analysis)
Company
Collaborators
Customers
Competitors
Climate/Context

Follow link:
http://www.netmba.com/marketing/situation/