Question

What additional revenue and market opportunities might the business investigate? 200 words

Answer 1

These are the following additional revenue and market opportunities might the business investigate-

1) Consumer segmentation- Consumer segmentation is the process of dividing the consumer market on basis on demographic segmentation, psychographic segmentation, behavioral segmentation, and geographic segmentation.

2) Purchase situation analysis - Purchase situation analysis is referring to conditions and situations when consumers doing purchases.

3) Direct competition analysis - Direct competition analysis is referring to analyzing the competition level in the market.

4) Indirect competition analysis- Indirect competition analysis is referring to the possibility of revenue from the substitute market.

5) Analysis of complementary product and service - The company generates revenue by analyzing the complementary product and service.

6) Analysis of other industries - Businesses must be analyzed which are from other sectors and industries.

7) Foreign market analysis - Foreign market analysis is referring to analyzing and predicting the foreign market and generating additional revenue.

8) Environmental analysis - Environmental analysis also supports much to increase additional revenue for the business and environmental analysis like political analysis of business, technological analysis of business, socio-cultural analysis of business, legal analysis of business, economic analysis of business need to well analyzed to find out the effective ways to generate additional revenue.