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6A - Identifying Opportunities in Economic & Regulatory Trends

4 Opportunities:

#1 Vape Quitting Service for Eighteen to Twenty-year-olds after Tobacco21 Ban
I found this information in the news and from word of mouth. I formed a belief from what I have seen in my peers and what I have researched in relation to the topic. This is in response to a regulatory change that has taken place nationwide.  I think this opportunity exists because of the rise of disposable vape products. The prototypical customer would be any person who is addicted to these products under the age of twentyone. I think this is a relatively easy opportunity to exploit through the use of social media and web services. I saw this opportunity because the prototypical customer fits within the age range of my peers at college. I see the struggles that my peers face without any aid and this presents an opportunity. This impact and experience is the reason why I think it is prudent to pursue an effort for helping those addicted to nicotine cope with their newfound loss.

#2 Advanced Response Coordination for Communities Post-Natural Disaster
I found this opportunity while researching economic trends in various business publications and when researching the condition of the Bahamas post-Hurricane Dorian. The number of natural disasters has risen tremendously over the course of the last decade due to an expedited change in the climate. A greater degree of response and aid is required in order to meet the growing need or post-natural disaster relief. The prototypical customer would be the leadership of communities that have been impacted by natural disasters and need an experienced team to coordinate efforts for response and repair. This would most likely be in less developed countries, as the governments of well-developed countries usually coordinate a baseline of response for impacted communities. This will be a mildly difficult effort as it relies on the impact and path of natural disasters. However, when and if these disasters happen, the need is there. I saw this opportunity when I did relief work for the Bahamas over winter break and upon doing research for relief efforts involved. My experience and my passion for those islands are why I care about this opportunity and would like to see a more streamlined process for relief efforts in the future.

#3 Biodegradable firm straws
I found this opportunity in Gainesville, Florida following a recent ban on plastic straws. I believe this need exists because I have seen the disgruntlement of the residents in Alachua County and nothing has been done to meet this customer need. The current solution (Paper Straws) is ineffective and disliked. The prototypical customer would be a business in a county with a plastic straw ban or an eco-conscious business. This could also sell to eco-conscious individuals who wish to have biodegradable straws for personal use. However, for the most part, this need presents itself after a regulatory change (ie. plastic straw ban). I think this will be relatively easy to exploit as the target market is easy to define and will be in need, following a ban. I saw this opportunity because I personally hate how my county has responded to the ban. I use the product currently in place and find it entirely ineffective.

#4 Web-based Economically Conscious Clothing Line
I found this opportunity while researching trends in the clothing industry. Big brands such as aeropostale and hollister have been struggling while smaller, more economically conscious brands have been gaining traction on social media. Online shopping and mor unique style has pushed neutral, stagnant brands out leaving room for new growth. Fast fashion that is inhumane and bad for the environment is moving out of style while smaller brands move in. I think the typical customer would be Millenials and Gen X, as they have the money to afford more expensive clothing, while also having a vested interest in purchasing from eco-friendly brands. This opportunity would be moderately difficult to exploit as the means for producing such a product would be costly. However, the payout would be potentially great. I have a vested interest in this idea because I know the dangers of the fast-fashion market on workers in East Asia. These methods also release enournous amounts of emmisions in efforts to be short-lived garmets and cheap. I beleive the market is ready for a brand with high quality clothes, that are ethically sourced.

Comments

  1. Hey Kelly,

    I loved these ideas, especially the environmentally friendly clothing line. I can obviously see you are passionate about the environment, which is so awesome!! I totally agree that there is a huge market in the environmentally friendly clothing stores, especially with our generation. Also that is so cool you went to the Bahamas to do relief work. I think being able to go and help those in need in other countries is such an eye opening experience, and I admire your passion to go and do that.

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  2. Hey Kelly,
    Great post! I really appreciate how the majority of your trends center around being environmentally conscious. I really like the implementation of paper straws here in Gainesville. Although they can be a pain because they do degrade pretty quickly in a drink, I think the fact that they are more sustainable for the environment beats that whole inconvenience. I personally do not get very frustrated because i know that the environment is not getting polluted as opposed to what a plastic straw would do.

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