Market Opportunity Analysis (MOA)

Published: 2021-07-07 00:11:49
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Category: Marketing

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What is the outcome of conducting a market opportunity analysis? Examine two components of the MOA and assess how each contributes to an effective IMC. Incorporate concepts and examples from this week’s lecture in your post.Market opportunity analysis is a tool that identifies and achieve the attractiveness of a business opportunity. MOA is a part business strategy planning or business planning, which comes before taking a new product or service. In this, we have to analyze the market for the product or service to determine the cost, profit and revenue from it. The outcome of marketing opportunity analysis include the best understanding of most of the market segments, we get to know how fast the market is growing. We also get to know about the market’s sustainable differentiation and why they’re important. MOA helps to find the new opportunities in the current market.Components of MOA include identifying what is currently happening in the business market. In this section, one gets to know the market’s economic condition, what’s currently happening in the market and its impact on the business. This helps to get prepared for the future expected changes as well. The second component of the MOA is to describe the target market so that one can focus on the sale and marketing on the correct audience and use appropriate efforts and reach maximum customers.Integrated marketing communications are the collaboration and integration of all the marketing tools and strategies. It is a simple concept, it ensures that all the communications are efficiently or effectively handled and linked together. Components of marketing opportunity analysis contribute to effective integrated marketing communication such as identifying what is happening in the current market environment. The American Association has suggested that a sole voice with the single message in all the communication networks which are involved in marketing has more chances of being heard at the large scale or by the organization’s targeted market area.ReferencesDoole, I., & Lowe, R. (2008). International marketing strategy: analysis, development and implementation. Cengage Learning EMEA.Fiorito, S. S., & LaForge, R. W. (1986). A marketing strategy analysis of small retailers. American Journal of Small Business, 10(4), 7-18.

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