Final answer:
To evaluate marketing opportunities, one starts by assessing the market sales potentials and competition within an industry. This analysis forms the foundation for strategic decisions and aligns them with the firm's goals and resources.
Step-by-step explanation:
The first step in evaluating marketing opportunities often involves conducting thorough research and analysis of specific markets and companies. This research includes estimating the market and sales potentials using statistical tools and evidence to model demand and supply curves. This analysis helps in understanding how firms compete in the industry, be it through price cuts, increasing output, brand advertising, or reputation for quality service.
These assessments can guide decisions on whether to enter specific markets and can inform the design of competitive strategies that align with the objectives and resources of the firm.