What is the profit opportunity?
Making decisions about Market Opportunities is a balancing act between what's possible, what's probable and getting comfortable with the fact that if Marketing only backed "sure things," you are likely too late to the game and forfeit better performance.
The Market Opportunities decision area is strategic and concerned with the longer term. With it, you can:
- Manage the upfront investment.
- Prioritize the most promising profit areas.
- Project results while dealing with a time lag in numbers.
The most obvious market opportunities have likely been identified, whether by you or the competition. You are looking for hidden gems buried in the data. These micro-targets need to be identified, analyzed and understood.
With the Market Opportunities decision area, you can set planning goals and scorecarding metrics for these performance management elements:
- Company share (%).
- Market growth (% and $).
- Market revenue ($).
- Profit.
- Sales (# of units and $).
Most importantly, you can analyze these goals and metrics by a number of dimensions to find the hidden gems in the data:
- Industry.
- Geographic region.
- Market segment (macro & micro).
- Brand and product line.
- Sales territory.
Using the Market Opportunities decision area
As a Marketing professional, you set targets and plan campaigns based on your targets for the goals and metrics in Market Opportunities. You monitor your success by looking at how you measure up against your targets. Further, you dive into your results to find out more about these elements driving performance management.
- Company share (%): Are there regions where our share is significantly less than our average?
- Market growth (% and $): Is a product growing above average with a particular market segment?
- Profit ($): Are we maximizing revenue per unit in some sales territories over others?
