There is a gap in the market, but any market in the gap?
Most markets are crowded. Multiple salesmen follow the same group of customers. The competition between these salesmen decreases the profitability. A market gap is a new product (service) or market segment that promises an attractive solid profit opportunities. There is a gap in the market, but the core question is if there is enough business to make a profit in this gap?
About the research
Our researches on the entry to the market and market opportunities have especially designed for two directions:
- For the beginners who wish to start up a new business, as a part of their business plans
- For existing companies who wish to enter new markets
The research on the entry to the market and market opportunities comprises Market Intelligence and Competitior Intelligence, in a broad sense.
Market Intelligence – is a data collection and analysis about the opportunities, penetration, development indicators of the market, the company wishes to enter, in order to make a precise and confident decision.
Competitor İntelligence – is a data collection and analysis about the competition environment, actions of competitors, competitor products and so on.
The content and benefits of the research
Companies should know the following data prior to their entry to a new market:
- Current situation in the market and market opportunities
- Market threats, market growth and market trends
- Competition environment
- The structure of the supply chain
While making a decision to enter a new market, the study of the current situation in the market and market opportunities enables companies to draw the map of the market. Studying market opportunities comprises the following activities:
- The measurement of market size and brand market shares
- The evaluation of market segments and market shares by segments
- Market gaps in terms of sales, segments and positioning
- Market needs, unfulfilled needs