Evaluating Market Opportunities Techniques

Broad Techniques

1. Niche Strategy: Find a niche of customers undeserved by current offerings
2. Growth Strategy: Increase revenue from existing market niches and deliver better offerings to new target markets
3. Defensive Strategy: Maintain leadership position by developing brand loyalty, mass distribution
4. Offensive Strategy: Adopt a policy of destroyer pricing to preempt the entry of new firms or drive away the existing competitors.

Specific Techniques

1. Market Penetration: Increase sales of an organization's current products in the present market through a more aggressive marketing campaign
2. Market Development: Increase sales by selling present products in new markets, possibly to satisfy new consumer needs or to identify new market segments
3. Product Development: Offer new and improved products to the current market
4. Diversification: Move into multiple lines of revenue generation