…and do some nitty, gritty marketing research. It’s not the glamorous, creative or “fun” work that us marketing geeks get excited about, but it is a necessary (and, yes, sometimes evil) part of growing your business.
When was the last time you took a close look at your position in the market compared to your competitors? Market Opportunity Analysis is something most companies do when they begin business or when they are about to launch a new product or service. But, that’s not the only time it can provide value. Keeping tabs on the current trends and needs in the marketplace is a solid way to ensure that you are marketing your company in the most strategic way possible. It can help you identify unmet needs in the market and align resources to deliver continued value to your customers. Market Opportunity Analysis may sound like no fun at all, but the return on investment will be something to smile about!