What is the size of the market opportunity?

Marketing by Geoffrey

Market Development

  • Opportunity Analysis
    • Where is the white space?
    • 5C’s Analysis
    • Is your goal to grow customers (new markets) or $/customer (current market)? (Utilize the growth matrix)
  • What is the size of the market opportunity? (making reasonable assumptions)
  • Target audience segmentation and recommendation
    • Who is your target audience? What other audiences did you evaluate and how did you choose this one?
  • Product definition and Brand position
    • Determine your current brand position in the market (what is your differentiation v competition) and how does that need to change to grow your market. If it doesn’t, rationalize why not.
  • Distribution channels
    • Where (or how) will your product or service be sold/reach the market?
    • What is the role of your collaborator in the purchase funnel?
  • Pricing/Value recommendation
    • What is your pricing strategy?
    • Prepare a simple Revenue Statement (Revenue, Costs, Estimated Profit OR break even analysis)
  • Three recommendations for implementation
    • Be Specific. How will you GTM (Go to Market)?