19 Jul '12, 3am

Getting into your own business (Part 4) – Finding new opportunities through looking for new market space.

Getting into your own business (Part 4) – Finding new opportunities through looking for new market space.

A uthor Prof. Dr. Murray Hunter Have you ever wondered why Walls introduces a new ice cream flavor, why a new detergent with a fabric softener comes onto the market, or why a new range of bread is launched? This week we are going to look at another way of finding market opportunities, through finding new market space where there are mismatches in supply and demand. The easiest way to look at this method of finding new ideas is through looking for where shortages occur – scarcity. Let’s look at this example – a new housing estate is going up around KL somewhere, people move in and want to have nasi lemak and kueh for breakfast and there isn’t any vendor in convenient proximity. This is an opportunity for those that see the shortage. It’s just a matter of being motivated enough to fulfill the potential demand, and there someone has a new business – small it may be at the sta...

Full article: http://www2.emmagem.com/2012/07/18/getting-into-your-own-...

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