Analyzing marketing opportunities

First step of the marketing procedure is analyzing market opportunities and availing these opportunities to satisfy the customer's needs to have competitive advantage. Marketing function of analyzing market opportunities is significant in the marketing planning procedure. Any marketing manager has to analyses the long-run opportunities in market to get better the business unit's performance. To evaluate its opportunities firms required to operate a reliable marketing information system.

Marketing research is an indispensable marketing tool for this particular purpose.  Researching the market permits the company to assemble information regarding their, competitors, customers and any environmental changes to know the market opportunities.   Once market opportunities have been analyzed then the modern marketing practice calls for dividing the market into chief market segments, evaluating each segment, and choosing and targeting those market segments that company can best serve.