opportunity-analysis

Vocabulary Word

Definition

Opportunity-analysis is when you examine a situation, market, or technology to find if there's a chance to make a new business or improve something. It is based on research and real-world data.

Examples in Different Contexts

In the creative industry, 'opportunity-analysis' helps understand trends. A creative director might mention, 'Our opportunity-analysis suggests retro designs are making a comeback this season.'

Practice Scenarios

Branding

Scenario:

Our current brand position in the generic skincare market isn't creating the differentiation we need. Maybe we need to consider a new segment.

Response:

Performing an opportunity-analysis could reveal untapped segments in skincare where our brand can stand out.

Tech

Scenario:

I've noticed a prevalent trend in home automation, yet many systems on the market are expensive and complex.

Response:

I agree. An opportunity-analysis could clarify if there's a market for an easy-to-use and affordable smart home system.