WHAT WOULD YOU DO? Carrie Ann thinks she has identified a hot opportunity. She has watched the demand for tattoos and body art increase over the last several years. Carrie Ann believes that this trend is now leveling off and that in the near future many people who have gotten tattoos will want them removed. In anticipation, she has developed a nonsurgical approach to tattoo removal that consists of a cream applied to the tattoo. The area is then covered with gauze, and the cream must be reapplied every day for two weeks. At the end of two weeks, the tattoo is gone. A tube of Carrie Ann's cream will retail for about $50. Question Carrie Ann is concerned about the timing of her product's introduction. She is not sure the window of opportunity is open wide enough at this time for her business to succeed, but she worries that if she waits for the opportunity to develop more fully, another product will beat her cream to market. How would you advise her in her opportunity analysis? Review the below illustration and incorporate the four key elements in your response to Carrie. You should format your response into a memo. A sample of a memo has been provided for you within the Additional Resources folder of this lesson. Market opportunity analysis How? Using a market opportunity analysis framework that revolves around four key elements: Customer Analysis of the customer environment uncovers unmet or underserved customer needs, as well as the market they occupy Technology Company Competition Analysis of the technology environment reveals the readiness of the particular technology, as well as any alternative technologies, on which the manager anticipates deploying the firm's offering Analysis of the company environment provides the current state of the company's resources Analysis of the competition environment reveal the structure of the industry and market, key competitors in the marketplace, and the firm's relative advantage to each of the key players SWOT STRENGTHS WEAKNESSES OPPORTUNITIES THREATS