Opportunity Identification

Definition of Opportunity Identification

✅  Related keywords: innovation process, problem identification, market need

📖  What is Opportunity Identification?

Finding a problem in the market that needs a solution in the form of a product or service. Opportunity identification can come from a technology improvement that allows a company to better serve its customer, or from a perceived discrepancy between what is currently available in the market and what the customer wants. Opportunity identification is the first stage in the product innovation process.

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