Opportunity Analysis
Your market planning will benefit from a systematic analysis of the marketing opportunities available to you now and any new opportunities you decide to pursue. By raising questions only you can answer, each "cell" of the "Market Opportunity Matrix" gets you thinking about where your time and resources are directed now and where they could be profitably directed in the future. This is essential.
| Market Opportunity Matrix | ||
| 1 Market Penetration |
4 Service Modification |
7 Service Innovation |
| 2 Geographic Expansion |
5 Modification for Expanded Markets |
8 Geographic Innovation |
| 3 New Markets |
6 Modification for New Markets |
9 Total Innovation |
Source: This matrix is based on a similar device created by H. Igor Ansoff, "Strategies for Diversification," Harvard Business Review, September-October, 1957 and further adapted by Philip Kotler & Paul Bloom, Marketing Professional Services, Prentice-Hall, 1984.
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