The Opportunity Map is a process to identify successful areas of market penetration and potential untapped areas for market expansion. When well executed, it defines the perfect basis for a good Strategic Plan. The Opportunity Map consists on the following :
- Market Map : The Market Map is a study of various market conditions that is plotted on a map to identify gaps between the current business of the company, and the total potential that the market offers. In our example we match ‘macro’ information of market size from databases and ‘micro’ information coming from the internal resources of the company.
- Opportunity Gap : Analysis of the information coming from the Market Map, that is compared with the current business segmented by product type and category, and defined by each individual customer (current and prospect).
- Business Model : The opportunities identified are filtered and defined in detail, supported by a financial case with information about sales, volumes, margins, investments and return of the investment.