Description: Market opportunity refers to a favorable set of circumstances that allows a company to enter a specific market. This concept is fundamental in the business realm as it identifies areas where the demand for products or services exceeds the existing supply. Market opportunities can arise from various sources, such as changes in consumer trends, technological advancements, or the identification of underserved niches. For a market opportunity to be viable, it must be evaluated in terms of its profit potential, existing competition, and the company’s ability to meet that demand. The main characteristics of a market opportunity include its accessibility, scalability, and long-term sustainability. The relevance of identifying and leveraging these opportunities lies in companies’ ability to innovate, grow, and adapt to an ever-changing business environment. In a world where competition is fierce, recognizing and acting on a market opportunity can be the key to a company’s success and survival.
