LESSON 3: OTHER SOURCES OF OPPORTUNITIES Flashcards
what are some sources of opportunities
- unexpected success / failures
- entrepreneur’s own set of skills, expertise or hobby
- new knowledge or technology for innovative opportunities
the prevalence of sugar-free products is now becoming the new normal, particularly to products that used to be sugar-full like soft drinks and desserts is an example of
customer preferences change over time
why does customer preferences change over time?
according to sir ed
madaling magsawa ang mga tao, we want something new
people’s preference changes over time making ___________
an evolution in products
(ex. 1980s music was the best era, and now hiphop and new wave and hair metal were the new genres emerged)
another great source of opportunities is
according to sir ed
what piques the customers, kung ano yung interest na maibibigay mo sa customers to buy your product, their driving force
what are the three battles for the product to won over the customer
- battle for the mind
- battle for the heart
- battle for the wallet
when the new smartphone came out, customers were being convinced by the different competitors on what was the best choice to make
battle of/for the mind
when customers got attracted to the features and brand image of one competitor
battle of/for the heart
when customers lined up to buy their preferred smartphone
battle of/for the wallet
jollibee has been so successful due to the “filipino taste” of their products, creating the comfort within the customers is an example of
customer use the products longer = chances of customer loyalty
the commercial ad instills fear that shapes the consumer’s perception about what is good or bad to drink
opportunities abound in shaping consumer perceptions or occupying spaces in their mind that have not yet been filled
advancement in the medical field and technologies to treat diseases is an example for
new inventions, systems, work processes for old knowledge
culinary schools offering career tracks to put up their own restaurant or pastry shop is an example of
determining personal preferences and competencies lay the foundation for a new business venture
the use of CCTV has created a tremendous opportunity for entrepreneurs, in terms of safety and security industry is an example for
unexpected occurrences indicate that significant changes are happening and opportunities are sprouting
