How to Identify Business Opportunities within the Marketplace
The life cycle of the marketplace determines how many people are looking for a solution, what they are searching for and how they view this solution.
However, the idea that the marketplace is created, expands, stagnates and contracts evenly across the entire world is a falsehood. While a marketplace could be in its final stages of maturity on one end of the globe, the same marketplace could be growing on the other end. The way that people look at a particular solution and their awareness of that solution will vary, and it may vary greatly, across different locations, countries and continents.
So, it’s important to understand how awareness, public perception, sentiment and concern are formed in specific geographic locations because, then, companies can capitalize on market segments where awareness is still spreading. This means that Marketing, Sales and Leadership will be able to determine exactly where and to whom it makes most sense to manufacture awareness and to drive efforts to reap that awareness.