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Creating a business is a major breakthrough, and the work doesn’t just stop there now, does it? Running and Maintaining it takes a lot of effort and time. To succeed, organizations need to overthrow not only internal obstacles, but also external threats. Constant monitoring of an organization’s functions is quintessential and needs to be donw, especially in today’s dynamic, ever changing, fast-moving world. Customer’s needs and fancies change everyday and it is up to the organization to cater to their dynamic needs to truly be successful. To add to list of barriers, there are also competitor businesses looking to replace old ones.Any opportunity that gets thrown in its path need to be taken. Moreover, a thorough examination of the market is required. This is done by starting an initiative, opening to a new market. Re-positioning business, identifying successful strategies, understanding the demands of the customer and a knowledge of competitor and it’s weakness.

The solution to identification of market opportunity lies in four crucial techniques of Market segmentation, Market trend analysis, Government regulation’s influence and Market constituent study.

Market sizing can be done by estimating size of the market by assessing all profits earned in the past five years. This along with information about the market constituents can be used to predict the future outcome.

Market Segmentation solution deals with individual market segment. The significant players are identified. The company’s shareholders, strategies and competitors are studied. Once this is studied, the resulting product is evaluated for quality check and compared with competitor’s products. Various marketing and positioning strategies are proposed for solutions. However, the product alone cannot assure that the business will be successful. Proper analysis needs to be carried out to assess the demands of the customer. This is done by analysing preferences based on various parameters and addressing each segment separately. The organization’s chain of work is also analysed. The various partners are identified and their role in the market is studies and quantitative analysis is carried out.With all this being done, there exists another major solution area. This is to identify the trends in the market, with the spotlight shining on emerging trends and the company’s reaction to the same.