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Home→The Westburn Dictionary of Marketing→M→market opportunity analysis

market opportunity analysis

Definition:
A formal and preferably structured attempt to identify future situations which may be exploited to the advantage of the organization. Market opportunity analysis is one of the four basic elements of the strategic or STRENGTH, WEAKNESSES, OPPORTUNITIES, THREATS (SWOT) analysis in which the firm seeks to identify threats and opportunities in the environment as a basis for maximizing its strengths and avoiding or rectifying its weaknesses. A wide variety of techniques from simple extrapolation through to technological forecasting may be employed in seeking to identify and define market opportunities.

Cross-References:
[SWOT analysis]

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© Westburn Publishers Ltd 2002, The Westburn Dictionary of Marketing edited by Michael J Baker, ISBN 978-0-946433-01-8. www.themarketingdictionary.com. Entry: [Michael J. Baker], [1998].