Entrepreneurial Opportunity Market Analysis Report

This report presents a market analysis focused on the entrepreneurial opportunity for a hand therapy device. It assesses the industrial attractiveness of the market, examining the potential for profit and the factors influencing it, such as market size and consumer base. The core of the analysis involves applying Porter's Five Forces model to evaluate the competitive landscape. This includes assessing the threat of new entrants, the threat of substitution, the bargaining power of buyers and suppliers, and the rivalry among existing competitors. The report concludes that the threat of new entrants and substitutes is low, while supplier bargaining power is also low, and that the existing competition presents an opportunity for successful product launch. Key features for market success such as competitive pricing, prompt delivery, and reliable production are highlighted. References to supporting literature are also included.

Entrepreneurial Opportunity

Industrial Attractiveness
 The industrial attractiveness is known as the relative future profit strength of a
particular market. The attractiveness of the market can be evaluated by different models of
market place like porter five force model. This also can be considered as the possibility of
profit in investing capital in particular marketplace. There are different things are
important to know the potential of particular market. For example the depth of market, size
of market place and number of possible consumer in the particular market. There are
different models are used by the business organization to find the attractiveness of the each
market place.

Cont…
 This is important for the organization to consider different things of the market palace to
check the profitability of their product. The conditions of each market is different from
each other and this is very important for the organization to evaluate the factors that are
considered in the porter five force model to analyse the current market condition.

Cont…
The company is looking for a market place where they can successfully launch their
product which is a tool that is known as hand therapy device. The main objective of the
organization is to establish the company in market place with this product that is efficient to
find the possibility of any health related issue in the international market. To check the market
possibility organization can consider the factors which are included in the porter five force
model. These five forces are-
 Threat New Entrant
 Threat Substitution
 Bargaining Power of Buyer
 Bargaining Power of Supplier
 Rivalry Among Existing Competitors

Cont…
Threat of New Entrant
 This is one of the most important thing for the organization to enter in the market
with the new product. There are already many organizations in the market place which are
providing similar product with different features. This is important for organization to
evaluate the current market scenario in order to make perfect entry in new market with
effective profit. As there are only few organization which are dealing in same product so
this threat is of new entrant is low for organization. This is threat also can be reduce by
providing better proving offer and better services to the consumer.

Cont…
Threat of Substitution
 The threat of substitution is also need be evaluated by the organization in
order to reduce the chances of failure in the target market. There are only few
organization that are working with this kind of product so the chances of
substitute is not high. By using innovative technology in the business practices
organization can effectively reduce the threat of substitution in the market place.
Bargaining Power of Buyer
 The bargaining power of consumer also can be consider as, consumer
can ask organization to reduce the cost of their product by threatening them with
about switching the organization. This threat is also low for organization because
this product is provided by few organizations. This condition can be more
improved by provide better service to the consumers.

Cont…
Bargaining Power of Supplier
 The raw material used in the manufacturing of hand therapy device is mostly
electronics which is offered by different electronics organization which are selling various
sensors and other measurement tools that are used in this detection device. So bargaining
power of supplier is low cause there are too many suppliers are providing raw material to
the company.
Rivalry Among Existing Competitors
 The current rivals of company are only few in current market. This will be a
opportunity for organization to launch their product successfully in the market place.
Effective and innovative business policy can help the organisation to maintain profitability
in the target market.

Features Provided by organization
There are different products are provided by the organization in the market place to
attract more consumer to buy their products in order to improve the benefits of organization.
the main factors that are offered by organization are effective competitive price of product that
can provide better opportunity to company in the market place. The other features are related
to product which are- prompt delivery and reliable production capacity.

References
Hall, J.V. and Krueger, A.B., 2018. An analysis of the labor market for Uber’s driver-partners
in the United States. ILR Review. 71(3). pp.705-732.
Fleisher, C.S. and Bensoussan, B.E., 2015. Business and competitive analysis: effective
application of new and classic methods. FT Press.
Mathooko, F.M. and Ogutu, M., 2015. Porter’s five competitive forces framework and other
factors that influence the choice of response strategies adopted by public universities in
Kenya. International Journal of Educational Management. 29(3). pp.334-354.
Kharub, M. and Sharma, R., 2017. Comparative analyses of competitive advantage using
Porter diamond model (the case of MSMEs in Himachal Pradesh). Competitiveness Review:
An International Business Journal. 27(2). pp.132-160.

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