Wednesday, 29 May 2024

Spotting Gaps in the Market and Finding new opportunities

What did you uncover today?

Here are some general ideas to spot new opportunities in the market, improvement hacks in life, or ways to make public life better.


Firstly, look for the challenges that the current situation is creating. For example, I see a rising trend of drinking problem in Kerala. So, what could be done and from where can we make a slight difference.

 Probably, it could start from the distribution center ie BEVCO outlet.

 Let's look at the social message or the culture that's promoted in BEVCO outlet. ( It's a bloody dirty, negative culture - putting all those who buy booze as കുടിയൻമാർ! F*&ing statement! 

( Thanks to this app https://www.manglish.app/ for quick translation of manglish to malayalam)


 For example, if we go to the outlet at Prasanth Nagar side, the cleanliness, the method of delivery, etc draws a certain kind of negative vibe. Is this the way a booze is distributed in a private bar in Bangalore on in Goa? Why can't we find a better system of keeping the space clean, providing space for buyers to keep bottles in the counter? 

I guess, our planners, statesmen, bureaucrats- नौकरशाहों  ( famed IAS fraternity) should use their idle brains to create a better system/process. ( I think I need to go into details in here. But, that will be in another blog post)

Second point - Explore how we can combine services ( or products) to make it much interesting. Again, let's take the booze distribution example. Can we think how this space could be utilized for cross selling other products? For example, this shop can ( Supply a bag, sell dry snacks at the counter ( made by a kudambashree), provide price details more clearly, keep more dustbins inside the shop compound, etc. 

Create a bigger service - For example, think of each BEVCO unit has the facility to collect used bottles. Will it help customer to discard them in a better way and keep public places clean. Or let's say, there are agents who will visit homes and apartments to collect bottles and discard them effectively. This is also another way of adding value. 

Introduce new technology - An app which can be used as a store locator and a delivery option. \

Hey, I hope these will give some idea on how such concepts can be applied to a biz. Btw, I picked this template from Jim's Marketing Blog. 

No comments:

Post a Comment