Market intelligence software such as MarketScape® can do more than just help companies stay competitive in their current market. It can also reveal new business opportunities and open doors to previously untapped markets. In this blog post, we will look at how a technology company was able to discover a completely new business area by using MarketScape®.
The technology company, which had been using MarketScape® for several years to track competitors and market trends, noticed a sudden surge in mentions of a particular technology in their monitoring feeds. Upon further investigation, they found that the technology was related to a completely different industry than their own, but had significant market potential.
Using the insights gained from MarketScape®, the company began researching the new technology and its potential applications in their industry. After several months of research and development, they launched a new product line based on the technology and were able to capture a significant portion of the market share in this new business area.
MarketScape® is not just a tool for staying competitive in your current market. It can also uncover new business opportunities and open doors to previously untapped markets. By keeping a close eye on market trends and competitors, companies can use the insights gained from MarketScape® to identify new areas of growth and revenue. With the help of MarketScape®, the possibilities for business expansion are endless.