Practicing Opportunity Identification, Ctd.
1. As a society, we are being instructed to wear face masks when in public.
a) The CDC along with local and national authorities have encouraged people to wear face masks in public.
b) Face masks are an item that can be bought and sold, therefore there is an opportunity for a market.
c) The prototypical customer would really be anyone with disposable income who expects to go to a public place.
d) I think the opportunity is relatively easy to exploit. Despite the fact that many people are unemployed and without a lot of extra money, everyone needs a mask. If the price was appropriate, I think face masks would sell.
I saw this opportunity because I have been to many public places recently and seen people wearing cheap disposable masks or masks fashioned out of random materials like cloth and scarves. I think anyone who pays significant attention in public could notice this opportunity.
2. Many types of recreational social gatherings, like weddings and graduation parties, have been restricted.
a) The CDC, along with local and national authorities, are enforcing guidelines to restrict the amount of people that can gather.
b) I think people will resort to online celebrations, and a platform for these celebrations could be a commodity.
c) The prototypical customer would be anyone with money who has something to celebrate that would typically require a social gathering.
d) I think the opportunity would be somewhat difficult to exploit. There is a considerable amount of people who are trying to find a way to celebrate without gatherings, but many platforms already exist to do this, like Zoom and FaceTime. In order to exploit this, you would have to make your platform unique.
Many of my friends are graduating right now, and a few people I know are getting married and celebrating birthdays. I have seen them struggle to find an appropriate way to celebrate without having a social gathering. I saw an opportunity to create a platform that felt more intimate and personal for these parties because I am a recent graduate, and I know I would want something like that.
3. Many businesses that are considered non-essential are being forced to close indefinitely.
a) The CDC, along with local and national authorities, are enforcing guidelines to restrict what businesses can be open which in turn forces some businesses to close.
b) I think there is an opportunity for innovative new businesses to adapt to guidelines and create a new way of consuming.
c)The prototypical customer is anyone with disposable income.
d)I think the opportunity would be difficult to exploit because many current business giants are already adapting their own companies to modern standards, so a new company wouldn’t have much of a comparative edge unless it was really unique
I personally think changes like the ones we are experiencing now are the perfect opportunity for new businesses and ideas to come into play and be popular. The only problem with this is the amount of unemployment right now.
4. Online shopping is increasing in popularity due to stores being closed.
a) The CDC, along with local and national authorities, are enforcing guidelines to restrict what stores can be open.
b) People still want to shop. Even though stores are closed, new online stores can enter the market.
c) The prototypical customer is anyone with an income to spend on non essential goods
d)I think this would be easy to exploit because online shopping is the safest way to shop right now, and plenty of people love to do it. A new online store with a unique product would be really successful.
As an online shopper, I sometimes get tired of looking at the same stores and being greeted with the same old products. If a store could come up with some really unique deals and producers right now, the social distancing guidelines along with stores being closed would only help their success.
a) The CDC along with local and national authorities have encouraged people to wear face masks in public.
b) Face masks are an item that can be bought and sold, therefore there is an opportunity for a market.
c) The prototypical customer would really be anyone with disposable income who expects to go to a public place.
d) I think the opportunity is relatively easy to exploit. Despite the fact that many people are unemployed and without a lot of extra money, everyone needs a mask. If the price was appropriate, I think face masks would sell.
I saw this opportunity because I have been to many public places recently and seen people wearing cheap disposable masks or masks fashioned out of random materials like cloth and scarves. I think anyone who pays significant attention in public could notice this opportunity.
2. Many types of recreational social gatherings, like weddings and graduation parties, have been restricted.
a) The CDC, along with local and national authorities, are enforcing guidelines to restrict the amount of people that can gather.
b) I think people will resort to online celebrations, and a platform for these celebrations could be a commodity.
c) The prototypical customer would be anyone with money who has something to celebrate that would typically require a social gathering.
d) I think the opportunity would be somewhat difficult to exploit. There is a considerable amount of people who are trying to find a way to celebrate without gatherings, but many platforms already exist to do this, like Zoom and FaceTime. In order to exploit this, you would have to make your platform unique.
Many of my friends are graduating right now, and a few people I know are getting married and celebrating birthdays. I have seen them struggle to find an appropriate way to celebrate without having a social gathering. I saw an opportunity to create a platform that felt more intimate and personal for these parties because I am a recent graduate, and I know I would want something like that.
3. Many businesses that are considered non-essential are being forced to close indefinitely.
a) The CDC, along with local and national authorities, are enforcing guidelines to restrict what businesses can be open which in turn forces some businesses to close.
b) I think there is an opportunity for innovative new businesses to adapt to guidelines and create a new way of consuming.
c)The prototypical customer is anyone with disposable income.
d)I think the opportunity would be difficult to exploit because many current business giants are already adapting their own companies to modern standards, so a new company wouldn’t have much of a comparative edge unless it was really unique
I personally think changes like the ones we are experiencing now are the perfect opportunity for new businesses and ideas to come into play and be popular. The only problem with this is the amount of unemployment right now.
4. Online shopping is increasing in popularity due to stores being closed.
a) The CDC, along with local and national authorities, are enforcing guidelines to restrict what stores can be open.
b) People still want to shop. Even though stores are closed, new online stores can enter the market.
c) The prototypical customer is anyone with an income to spend on non essential goods
d)I think this would be easy to exploit because online shopping is the safest way to shop right now, and plenty of people love to do it. A new online store with a unique product would be really successful.
As an online shopper, I sometimes get tired of looking at the same stores and being greeted with the same old products. If a store could come up with some really unique deals and producers right now, the social distancing guidelines along with stores being closed would only help their success.
Hey Haven,
ReplyDeleteI also wrote about events being canceled, specifically graduation ceremonies. I also think it would be difficult to exploit. It seems hard to make any celebration very personal when a prerequisite is that it needs to happen online. I don't know is there would be any way to arrange celebrations with a large number of people while conforming to safety guidelines. Maybe it could be a simulated ceremony on virtual reality, but not many people have the hardware to be able to do that.
Hi Haven,
ReplyDeleteIn relation to the opportunity with the face masks, my only fear would be the fad of wearing "fashionable" ones. Do you think it would be worth it to go into that market, or to instead invest in generic ones for long-term use. This also depends, I think, on how long people will feel the need to wear a face mask. Is this going to be a cultural change, or a temporary issue? Otherwise, great post!