1) Due to economic factors, the markets have gone down significantly from previous highs. This presents an opportunity for people to start investing in the stock market. The only problem is 45% of Americans are not invested in the markets (Gallup) due to lack of knowledge on the matter.
b) This information leads me to believe that there is a large percentage of Americans who are in need of financial advising.
c) The prototypical customer would be the group of people in the 45% of Americans not invested in the stock market, that are interested in starting to buy stocks, but do not know where to begin.
d) I believe that this opportunity is moderately difficult to exploit simply because due to the current economic issues, many are skeptical about the future of the US economy so convincing people to get into the markets could be difficult. That being said, if they would have entered at the bottom of the drop, they would have reaped close to a 35% return.
e) I saw this opportunity because I have been invested in the stock market ever since I was 8 years old. I track it on a daily basis, allowing me to know when an opportunity presents itself. Additionally, through my experiences talking to people about this matter, many do not know anything about investing, want to learn, but do not know how.
2) Due to new regulatory changes in FDA approval, food manufacturers can now change ingredients without disclosing the change, as well as omit calorie information. This is causing unrest among “some consumers and advocates, including the food-allergy organization and news site SnackSafely” (Zhang).
b) This leads me to believe that there will be a need for a natural snack that has authentic and visible ingredients available to customers, with a form of verification that what they state is true.
c) The prototypical customer will be those with food allergies, or those who really need to make sure they know what they are putting in their body. Any organization that is weary about this new regulation, may be interested in this product.
d) I believe that if a form of verification can be portrayed in order to build the trust of consumers, then it will be relatively easy to exploit.
e) I saw this opportunity because as an avid weightlifter, I am super careful about what I eat, so I know how important it is that the packaging states everything in the product, including calorie count and ingredients.
3) Gyms have been forced to shut down the past couple months due to the COVID-19, leaving many without their daily exercise routine.
b) This is a clear sign that there has been and will continue to be a huge demand for home equipment that is easily accessible and practical for people with small spaces.
c) The prototypical customer will be those that used to workout at a gym, but no longer have access because of regulatory changes. Once gyms begin to open up, the type of customer that will remain loyal will be those that are at most risk of getting infected (older individuals, or those with previous health issues).
d) This will be easy to exploit because as it said in the article, there has been a huge increase in demand for stationary bikes, which means people are wanting and looking to stay active.
e) This was an opportunity that was really easy to identify because my friends and I are all daily gym-goers, and ever since the gyms closed, we have been looking for alternatives to working out at home.
4) The unemployment rate has reached Great Depression levels.
b) This creates a huge demand for ways to make more income at home. Since millions are losing their jobs, many due to the closing of restaurants and shops, there is an opportunity to help develop ways to transition jobs online, as well as helping people get their jobs back quicker.
c) The prototypical customer is someone who lost their job and is on the hunt for other streams of income.
d) This will be somewhat hard to exploit because those without a job won’t have much disposable income to spare and they may also be too afraid to trust a new program. That being said, it is still a huge opportunity to help the lives of millions.
e) I saw this opportunity because I have many friends and family who have lost their main source of income, and they always tell me that they are looking for new ways to make money online. I think a program that helps them on that process could be very beneficial.
Erick,
ReplyDeleteI had never heard anything about what you mention in #2. I get that supply chains are interrupted and manufacturers are behind with staffing issues, but why don't vending machine companies have to post the calories anymore on the products in their machines? I would understand fresh perishable items that get replaced weekly. However, why would a candy bar or monster energy drink have a change in calories? Those items are produced long ago and have a long shelf life. I've always been a fan of showing calories because it affects my decisions sometimes and especially the impulse purchases.
Hey Erick,
ReplyDeleteI disagree with your idea that people are not willing to invest in the stock market due to fear of the state of the world economy at the moment because of Covid-19. I believe that we have seen the worst of the world economy already. As things around the world are doing better, so is business. This means that now would be the time to invest because I do not believe stock prices are going to go any further down. After hitting rock bottom, there is no where to go but up. I think that stocks are on the rebound. I also agree that personal gym equipment may increase at least in the short term. I do think, however that gyms and the machines in them, are far too convenient to render them obsolete just yet. However, I do think there may be some money to be made in it at the moment.
Hello Brian, I never said that it was not time to invest. I actually said the opposite, in that people are afraid to invest and that if there were more knowledge on the matter, then more people would have gone in when it dropped and capitalized on it. It is a fact that 45% of Americans are not invested in the market, which means that there are a lot of people out there who are in need of financial advice. I felt I had to clear this up because I am very passionate about the markets, and I have been investing in them since I was a kid. Hopefully, this cleared things up.
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