Market Potential Analysis is a combination of research methods which reflects the market potential and capacity. In these types of researches unanswered needs of the customers or beneficial opportunities which are not seen by the competitors, are being recognized. These researches are also mostly used when a company wants to enter new market or change its marketing strategy. These researches usually include 3 main steps:
• Total overview of the market and competitors
• Knowing and analyzing customers' needs
• Recognizing opportunities and unseen needs of the customers and also the void in the market
These types of researches are a combination of quantitative, qualitative and also market analysis and the client's capacity and usually answer these questions:
• Is the desired market suitable for growth and development?
• What are the probable growth opportunities?
• Can new opportunities be created through more cooperation with suppliers or distributors?
• Are all of the customer needs answered?
• In which fields market growth and development can be found by innovation and creativity?
• Are the competitors using all capacity of the market?