Find opportunities broader market definitions

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Broaden market definitions to find opportunities Broader market definitions—including both generic market definitions and product-market definitions—can help firms find opportunities. But deciding how broad to go isn’t easy. Too narrow a definition limits a firm’s opportunities—but too broad a definition makes the company’s efforts and resources seem insignificant. Consider, for example, the mighty Coca-Cola Company. It has great success and a huge market share in the U.S. cola-drinkers’ market. On the other hand, its share of all beverage drinking worldwide is very small. Please explain.

Reference no: EM131375350

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