Conducting a market opportunity analysis is like…yeah, you get it. You’re relentlessly trying to find untapped growth, underserved customers, or tired incumbents ripe for disruption. Whether you’re launching a new product, entering a new region, or just figuring out where the puck is headed next, here’s how to break it down like a pro (not a poser).
What Is Market Opportunity Analysis?
A market opportunity analysis (MOA) is a structured process for identifying and evaluating potential areas for business growth. It helps answer:
- Where is the demand?
- How big is the market?
- Who’s underserved or poorly served?
- Can we win here?
You want data, insights, and some guts. It’s part research, part intuition, part street smarts.
How to Conduct a Market Opportunity Analysis
Here’s a 7-step playbook that applies whether you're selling software to CFOs or smoothies to soccer moms:
1. Define the Objective
What are you evaluating? A new product? Entering a new region? Serving a new segment? Get specific.
Example: “Can we launch a subscription-based customer support chatbot for mid-sized Ecommerce brands?”
2. Identify Market Segments
Slice the market like a New York pizza. Use demographics, psychographics, firmographics, buyer behavior—whatever works for your industry.
B2C: Age, income, lifestyle, purchase triggers
B2B: Industry, size, tech stack, pain points
3. Estimate Market Size
Break this into three buckets:
- TAM (Total Addressable Market) – Everyone who could buy
- SAM (Serviceable Available Market) – Everyone you can realistically reach
- SOM (Serviceable Obtainable Market) – Everyone you might actually win in year 1
Use a combination of primary data (e.g., surveys, interviews) and secondary data (e.g., Gartner, Statista, PitchBook).
4. Analyze Trends and Drivers
Look for tailwinds:
- Macro trends (e.g., remote work, AI adoption, plant-based diets)
- Regulatory changes
- Cultural shifts
- New tech
This is where timing can turn a meh idea into a unicorn.
5. Evaluate Competitors
Map out direct, indirect, and “sleeping giant” competitors. Score them on:
- Market share
- Pricing
- Differentiation
- Customer loyalty
- Tech stack
Then ask, “Where are they weak?” That’s your wedge.
6. Assess Customer Needs and Gaps
Talk to actual humans. Conduct:
- Interviews
- Surveys
- Online reviews
- User testing
Look for friction, unmet needs, or "I wish someone would just..." statements. Those are signals of opportunity.
7. Score the Opportunity
Use a framework like this:
|
Criteria |
Score (1–5) |
|
Market size |
|
|
Growth rate |
|
|
Competitive intensity |
|
|
Profit potential |
|
|
Strategic fit |
|
|
Ease of entry |
|
Multiply scores by weights and see where the math takes you.
AI Prompts
Use AI to speed this process up and get sharper insights:
- What are the biggest unmet needs for small business accounting software in the US?
- Estimate the TAM, SAM, and SOM for mental health apps targeting Gen Z in the US.
- Summarize the latest trends and growth drivers in the B2B SaaS collaboration market.
- List 5 underserved customer segments in the fitness equipment market.
- Analyze customer complaints and reviews for robotic lawnmowers to find market gaps.
Final Thought
A good market opportunity analysis is part X-ray, part treasure map. Don’t chase hype—chase truth. If the data says there’s a real need, you’ve got a path to solve it, and the competition is sloppy or slow, you’ve got something. The market doesn’t care about your dreams—it cares about its own pain. Serve that pain better than anyone else, and you win.
