Opportunities are like a free bite. Sometimes, they taste great. Other times, they give a bad feeling, but it’s never really known unless you take a bite. A business offering is absolute in an ideal world, growing on its own without being affected by external factors, and remains profitable for aeons.
Imagine the process of setting up an ice cream counter. Initially, you would want to figure out the counter’s location and position—next, the various flavours and finally and most significantly, the price of the products. Now that the ice cream counter is set, the business has to grow by way of its sale and profit, maybe by increasing the price through introducing new offers and combos or partnering with another popular brand to come with a unique flavour. In other words, market research gives information on which market opportunities are worthwhile. Well done market research can remove layers of ambiguity.
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