Definition (1):
Market opportunity analysis (MOA) is the system, used to determine the attractiveness and probability of success.
Definition (2):
Market opportunity analysis refers to an analysis conducted by a firm upon reviewing the marketing environment, focusing on finding and selecting among market opportunities. A traditional market opportunity analysis includes both demand and supply analysis. The demand portion reviews various market segments in terms of their potential profitability. Conversely, the supply analysis reviews competition in selected segments that are under consideration.
Definition (3):
“Market opportunity analysis is a tool that identifies and achieves the attractiveness of a business opportunity. MOA is a part of business strategy planning or business planning, which comes before taking a new product or service.”
This analysis includes two components. The first component is to recognize the present situation of the business market and the second is describing the target market.
Five steps are involved in analyzing the market opportunity analysis:
- Identifying the forces of the business environment.
- Describing the industry, major trends, opportunities, and marketing practices.
- Analyzing the main competitors.
- Creating a profile for the target market.
- Setting sales projections.