Market Opportunity Analysis Frameworks in the Context of the Technological Advancement of Firms

Sammanfattning: Market opportunity analysis (MOA) frameworks are tools used to assess a firm’s potential in a new market and are an important resource for firms considering expanding. Some of these tools are intended for initial high-level screening of markets, while others are more comprehensive analysis tools. These MOA frameworks are increasingly crucial in a modern business context, as the internet has brought together markets worldwide, allowing businesses to operate in multiple locations with relative ease. While there have been some additions, these frameworks have remained largely the same for nearly 50 years. With that in consideration, examining how technological business developments have impacted traditional MOA frameworks has both theoretical and practical relevance. For all companies, but particularly for companies that are highly reliant on technological solutions, the impact of technology on MOA frameworks should be assessed. Therefore, the purpose of this thesis is to determine if traditional market opportunity analysis frameworks should be updated to account for contemporary technological developments and, if so, how. This research is based on a single-case study using a market research and analytics agency attempting to expand in new markets using a new technological solution. Semi-structured interviews were conducted with MOA practitioners and a professor of business research, marketing, and entrepreneurship. This study found that while academic methods and principles may still generally work well, they could benefit from minor restructuring and the more explicit incorporation of technological development within MOA frameworks. While technology is a major factor that should be incorporated, the complex environment that businesses operate in results in multiple areas for future research that would benefit those in academia as well as practitioners.