What are opportunity assessments?
Opportunity assessments involve the evaluation of potential opportunities for market entry, expansion or investment, providing strategic insights to maximise growth and mitigate risks. They encompass:
- Market potential analysis: Evaluating market size, growth trends and demand drivers to identify attractive opportunities for market entry or expansion.
- Competitive landscape evaluation: Analysing competitors’ strengths, weaknesses and market positioning to identify gaps and opportunities for differentiation.
- Risk and feasibility analysis: Assessing regulatory, economic and operational risks to determine the feasibility and viability of pursuing identified opportunities.
- Investment opportunity identification: Identifying potential investment opportunities, including mergers, acquisitions, partnerships or new ventures based on market analysis and strategic fit.
Some of the main benefits of opportunity assessments are:
Gain insights into market viability and potential ROI
Identify untapped and underserved markets to maximise growth potential
Informs strategic planning with data-driven insights and forecasts
Enhance risk mitigation with new market entries or expansions
Optimise decision making through challenges and opportunities identification
Key questions that are answered by opportunity assessments
Opportunity assessments aim to answer several key questions to help guide strategic decision making:
- What market opportunities exist for expansion, entry or investment?
- What are the potential risks and challenges associated with pursuing the identified opportunities?
- How does the competitive landscape impact the feasibility and viability of pursuing the identified opportunities?
- What are the regulatory and economic factors that may influence the success of the identified opportunities?
- How do the identified opportunities align with the organisation’s strategic objectives and long-term goals?
In On Africa’s opportunity assessment services
In On Africa (IOA) possesses substantial expertise in conducting comprehensive opportunity assessments across Africa. Our project portfolio extensively covers analyses of specific industries and markets, aimed at guiding stakeholders on strategic decisions such as market entry, expansion and positioning. Each assessment is tailored to reveal tangible opportunities that drive informed business strategies for each client.
Our analytical prowess extends across diverse sectors, ranging from agriculture, education and energy through to transport, technology and telecommunications (and everything in between). We have identified opportunities for clients with niche product offerings, such as lubricants and healthcare technologies, and guided the expansion of client service dimensions, such as software and financial services. Regardless of whether the focus is on a single market or if it spans multiple markets, IOA’s insights are designed to support clear and strategic industry navigation.
Our team is instrumental in pinpointing and exploring potential opportunities. Utilising a blend of high-level analytics and practical, on-the-ground insights from our expansive network of consultants and partners, we provide comprehensive and actionable market analyses. This approach ensures a balanced perspective that enhances decision-making processes.
IOA excels not only in generating initial opportunity assessments but also in working closely with stakeholders to transform these opportunities into measurable gains. Our holistic approach fosters ongoing growth and success (see business development and strategic support), with IOA working closely with our clients to maximise the potential of African markets, such as through partnership identification and ongoing monitoring and intelligence offerings.
Opportunity assessment project case study:
Continent-wide market attractiveness study to guide African expansion
Client:
European software company in the transport sector
Country:
All of Sub-Saharan Africa
Methodology:
Primary and secondary research that focused on 12 specific criteria to statistically analyse and rank the market attractiveness of 47 African markets
IOA was contracted to conduct a large-scale (47-country) market attractiveness assessment by a multinational software company operating in the transport sectors of various European countries. The main aim of the assessment was to expertly identify a shortlist of African markets that presented the most viable opportunities and lowest level of risk for our client’s entry into Africa.
The research was split into two phases, with the first involving an in-depth assessment of all 47 Sub-Saharan African markets, focusing on 12 specific criteria of interest to our client. These criteria included data points relating to cars (e.g. number of cars per country), insurance (e.g. insurance uptake per country), business (e.g. internet connectivity) and the economic and political landscapes (e.g. political climate).
IOA statistically analysed the market attractiveness of each of these 47 markets to guide our client on a shortlist of high potential countries to consider. The second phase then involved a more targeted assessment of shortlisted markets, such as partnership identification, market-sizing analysis and competitor analysis.
Key project outcome:
The research guided our client on which markets in Africa presented the most viable opportunities for market entry and identified potential partnership opportunities, competitor landscape and risks that would need to be mitigated.
Find out more about how IOA can help you identify and assess opportunities in Africa.
Read more about IOA’s various service offerings and examples of our past work.
Related services offered by IOA:
Business Development & Strategic Support | B2B Research | Competitor Intelligence | Due Diligence Investigations | Geopolitical Research | Industry, Sector & Market Intelligence | Market Assessments | Partnership Identification | Risk Assessments