Market opportunity assessment

A market opportunity assessment is a summary overview of the size and nature of demand in a potential market, as well as the vendor ecosystem (competitors and channel participants) that exists to serve that market.  The goal is to develop a clear understanding of the “big picture” - how the industry is operating, and what are the key trends.

You can gather most of the information you need for this analysis through online research. Supplementing and sense-checking this research with conversations with industry insiders will pay big dividends. Industry insiders include leading customers, vendors, trade association executives, journalists and research analysts.

Your market opportunity assessment should include:   

·         a definition of what is and what is not included in the market

·         market size and growth rate

·         primary customer segments and a short profile on each

·         overview of the vendor eco-system (the key players at each stage of the supply chain) with a short profile on each vendor category

·         a summary of your:

o        best target customer segment/s

o        likely competitor categories

o        possible channel partner categories.