Finding and evaluating the right marketing opportunity - Opportunities can be recognized , discovered, or created
4 important questions on Finding and evaluating the right marketing opportunity - Opportunities can be recognized , discovered, or created
What are the characteristics of a good opportunity?
1) It creates significant value for customers by solving a significant problem or filling a significant unmet need for what the customer is willing to pay a premium price.
2) It offers a significant profit potential to the entrepeneur and his or her investors - enough to meet their risk / reward expectations.
3) I represents a good fit with the capabilities of the entrepeneur and the management team - that is, you have the experience and skills to pursue it.
4) It offers sustainability over time - it is not based on a fad.
5) It can obtain financing.
What are "latent needs" of customers?
Latent needs are needs the customer is not even consciously aware of.
What are some things the aspiring entrepeneur must do when assessing technological change and the possible opportunities it provides?
1) Determine the magnitude of the change
2) Examine the generality of the change
3) Assess the commercial viability of the change
In short, the larger the technological change, the greater the opportunity. (general purpose vs. one-purpose technologies).
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How do niche or veiled opportunities surface?
By going into the marketplace and seek out the unhappy, the underserved, or the overlooked customers.
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
