Explain briefly the concept of opportunity analysis
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Opportunity analysis refers to establishing demand and competitive analysis, and studying market conditions to be able to have a clear vision and plan strategies accordingly. Opportunity analysis is a vital process for the growth of an organization and needs to be performed frequently.
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Opportunity analysis is the systematic examination and evaluation of external environments in order to identify market acceptance, needs, desire for, and economic factors in the creation of a new product or expansion of existing products and the profitably or lack-thereof.
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