Economic Trends
India’s economic growth
(b) This presents an opportunity because since India is still a developing country, there are a lot of needs that can be met through different businesses. Their economic growth will help create plenty of job opportunities and markets for companies to take advantage of.
(c) The customers are all the businesses and consumers in India that will be affected by this growth.
(d) This opportunity is relatively difficult to expose because it’s in another country and will require a lot of time to research and develop ideas pertinent to India’s economy. One would have to understand their culture, beliefs, needs, and many other variables in order to exploit their economic growth.
Increased consumer spending from confidence
(b) This presents an opportunity because as American citizens gain more confidence in the economy, this will allow them to spend more rather than save.
(c) The most pro-typical customer is probably the middle class.
(d) This opportunity should be relatively easy to exploit because increased consumer spending should help the overall market.
Regulatory Changes
“In 2009, President Barack Obama announced a new national fuel economy and emissions policy that incorporated California's contested plan to curb greenhouse gas emissions on its own, apart from federal government regulations.
The combined fleet fuel economy for an auto manufacturer of cars and trucks with a GVWR of 10,000 lbs or less will have to average 35.5 mpg. The average for its cars will have to be 42 mpg, and for its trucks will be 26 mpg by 2016, all based upon CAFE Standards."
(b) There will be an opportunity for eco-friendly cars because of the new regulations under this policy. It will rule out all cars that no longer meet this standard and will push for cars that have higher mpg ratings.
(c) The person to be the most likely customer is anyone who drives a car that doesn’t meet this standard. I would say the majority would fit this standard because people are still transitioning into eco-friendlier cars.
(d) This opportunity is relatively hard to exploit because of the competition that already exists in the car industry. Many of the brands have already recognized this new shift and begun working toward releasing cars with higher mpg than power.
Legalization of marijuana
(b) This is a big opportunity for rising entrepreneurs. The legalization of marijuana will give way to a market that already has a huge demand.
(c) The person most likely to be the customer is anyone who consumes marijuana both recreationally and medically.
(d) This opportunity is relatively easy to exploit because there are still so many places that have yet to legalize it. This means that if they do legalize it, it will create an opportunity for people to enter into the market and because it’s still new, there shouldn’t be too much competition
To be honest, I don't feel like there was anything in particular that allowed me to see these opportunities differently than anyone else would have.
ReplyDeleteHey Kelvin! I enjoyed reading the two opportunities you found in the economy and the two opportunities you found do to regulatory changes. The article you found titled “Increased consumer spending from confidence”, I was interested in this economic trend you found simply because it made me sit back and realize I have been spending more money recently then prior years.
Hey Kelvin,
ReplyDeleteThe article about India was of a great interest to me because I would love to contribute to the advancement of developing countries. I am interested to see the potential opportunities present there and how would one go about enacting them within their market.
Good picks.
Hi Kelvin,
ReplyDeleteYou brought up a great variety of issues and solutions. I'm especially interested in the last article and solution about fuel emission regulations for cars. These regulations affect millions of drivers. I agree that there will be a huge shift in car manufacturing, as there has been in the past 5-10 years with fuel efficient vehicles. If car manufacturers could devise a way to build sports cars with excellent fuel economy and horsepower, there would be a huge market for this in California.
Hi Kalvin,
ReplyDeleteI really loved the different articles you chose! Such a wide variety with really interesting topics. My personal favorite was the topic of marijuana and it's legalization. Colorado's market for marijuana is booming and as more state legalize, I can only imaging the kind of money it'll bring in. I also like the article on India's growth, lots of good information. Great blog post!
~Your TA~