Easily Identify Market Opportunity

If you found business ideas that suit with your passion,  then you need check market opportunity. The market opportunity is market demand. There is people group that will need and love to buy your products. You need to check market opportunity so you know it is worth spending. You will know, it is worth to spend your money, time, energy and attention? Then, identify market opportunity is often expensive, so I offer an easy and cheap way. It identifies market by online tools, like google keyword planner, Google, Google Trend and Facebook.

What you need to do to prepare is collect keyword about the product. Not just keyword in your term, but keyword in their term.  For example, if you want to sell fishing accessories, you write a list of keyword: buy bait, buy a kayak,  fishing in Arizona, cloth for fishing, fishing rod et cetera.

 

1. Google Keyword Planner

You can access Google keyword planner in this link adwords.google.com. You sign up or sign in to that website.  Then click tool icon at top right, then click keyword planner.

identify market opportunity

Google keyword planner help you to identify market opportunity. Plug your keyword at this tool, then it gives you statistic about keywords.

research-market-opportunity

That is quantity keyword that audience type on google. That is mean market demand. At least indication. You can add another keyword that gives you a strong indication, like the cheap fishing pole. You will found market demand

2. Google Trend

Google trend give you information about how many people that search the keyword in annual by month. This data gives you information about when market demand in peak and in low.

3. Facebook

Then you check facebook. Plug your keywords into facebook text box.  I mean keywords about the product on Facebook. Choose fanpage. We will check fanpage for the product. Check interaction in the fanpage. Many commercial interactions indicate a good opportunity.

 

 

Disruptive Marketing in Interactive Communication

Disruptive Marketing is marketing that sensitive to business disruptive.

In previous post I write about fall of market leader, Nokia. Nokia is not alone. Many malls and retail shops in Indonesia are out of business when the market prefers a new way of shopping, which is online shopping. The market much likes to shop through online ordering via a virtual market (marketplace) such as Tokopedia, JD.id, shopee.co.id, bukalapak.com and so on. The world of public transportation is also experiencing similar things. There is a market trend to use taxis and motorcycles with online reservations such as Uber, Gocar, and Grab the mobile application.

The phenomenon of market interest shift over these different product categories is driven by the widespread use of internet-connected smartphones. The impact of information technology is behind the disruption symptoms. Disruptions The old business models are replaced by more efficient businesses with information technology support.

Information Technology Era and Disruption

In today’s information technology era, businesses are required to be sensitive to new categories that can be more efficient and effective that undermine the old categories. That is Disrupt phenomenon.

Students as candidates for business managers are also required to have sensitivity in the midst of rapidly changing situations. Their briefing in the form of lectures and teaching materials material to them also needs to undergo changes or updating taking into account the role of information technology in business.

This textbook is an attempt in that direction, updating the science of marketing by weighing information technology. This textbook offers a more sensitive and flexible approach to changing the business environment. The old marketing concepts are not entirely abandoned because they are still relevant today, but with the use of information technology. There are 3 updates that  I offer.

  • We need to add the idea of Segmentation and Targeting with use of information technology that facilitates segmentation as well as new, unknown targeting methods prior to the widespread of information technology.
  • The concept of Targeting and Positioning is complemented by the preparation of personal and flexible buyer persona and value proposition, given that communication is now more interactive and companies are required to be flexible with changing needs.
  • The competitive advantage not only looks at product characteristics alone but comes with a business model sensitive to new changes.
    With the updating of marketing knowledge, it is hoped that textbooks will be able to adjust to rapid changes and can perform marketing activities more effectively and efficiently with the use of information technology.

That is disruptive marketing that quick respond to market change behaviour.

 

Disruption in Business and New Marketing

Disruption business is real. It triggers a new perspective on business and marketing. Nokia CEO, Stephen Elop, cried.  “We did not make any mistake, but somehow, we lost”. It happened during a press conference announcing the acquisition of Nokia by Microsoft in 2013. As he said that, all the management team, including himself, cried sadly.

In the GSM generation, Nokia is the market leader in the world. In 2007, Nokia controlled 50% of the world’s mobile market. Furthermore, since 2010, Nokia market continues to fall to 3.1%.

Good Business in Disruption World

Until now, the Nokia brand still has a positive brand association. Nokia does not make broken products. The product is in line with quality expectations. Nokia also has good after-sales service, such as warranty.  a good resale value in its Symbian Class Category.
Nokia has great innovations. Its famous products are easier and comfortable to wear. Loud noise – from monophonic to polyphonic to sounds of the sound system. Nokia pioneered technology that is user-oriented, user-friendly products. The motto, the technology that understands you. The Nokia snake game on the HP screen is a great idea in its day. It’s an idea that meets the human need to play.

But in fact, it is not enough to keep his business. Nokia has performed well in its business to become the most popular Symbian mobile phone. But the market trend has shifted. Although Nokia is the best Symbian mobile phones, the trend moves to the blackberry and then to the Android and iPhone types. Nokia tried to take up with making products such as Blackberry, Android, and iPhone, but could not stem the development of Samsung and iPhone.

Late to Respond Market Change

Later realized, Nokia stuck on innovative features improvements to existing products and services. While other companies are moving in the other direction, that is reacting to the innovation apple that offers smartphone products in 2007 with touchscreen features and thousands of applications. Samsung reacts quickly to the category of this smartphone by presenting Android-based smartphone in 2010. While Nokia updates Symbian software by launching Symbian 3, but not popular. Two years later, in 2012, Samsung became the market leader, defeating Nokia, grabbing the world’s largest market share in the mobile phone field. Nokia, the company that once ruled this mobile phone market gradually abandoned the market.

What happens to Nokia is late in reacting to a market that is experiencing a change of interest in the category of product category of Symbian to Android and iPhone category. Conventional Symbian categories that previously met the market need for communication became irrelevant, as the market opted for a new category of communication needs.

In the disruption business, we need to update marketing program that easy and fast to adjust behavioral market change. We need market intelligence, market research that sensitive to market change. Value proposition and business model offer that flexibility.

Find Business Ideas That Fit to Your Passion

Imagine you found passionate business ideas.  You start and running a business that follows your passion.  Even though you experience hard times and problem, you never quit. You have the big power to do a business journey. Wonderful.

But how long? You ask for your self, what if your passion has no market? What are another criteria for good business ideas? How to evaluate the feasibility of business ideas? Is your business worth pursuing?

1. Know Your Self

Identify and create a list of what are your skills, what are your passion?  Ask for yourself:

  • What repeated and longtime activity that you never bored
  • What activity that you never mind if you never get money?

Then, maybe your passion is sewing, scrapbook, pottery. That is passionate about making something.

Then, what if your passion is playing game? No one gives money to play a game.  Find a job that similar to playing a game but helpful. For example,  social media advertising manager.

2. Look Your Environment

After you study your mind, your passion, your knowledge, your skill.  study the world around you.  That is your existing hobbies, your daily life, and job.

What is your job or task that you are struggling because you have a problem? What problem that you can not resolve?

You solve the problem first, then get it as business ideas.

If you get an answer, see people like you.  How many people like you that have the same problem. If so many people that have a problem similar to you, that is passionate business ideas.  You are not only found something that you passionate but also you found feasibility.

3. Check Market Demand Online

Sometimes, it is not easy to measure how big market. You can try research market by online.

Make a list of keyword from imagined people that need your offer. Write your keyword on search engine. That is a list of another offer to solve the same problem. If not, you are the only one that offers to solve the problem. If you have so many competition, check their traffic, engagement, and sales.  You can check in google.com, google trend, google keyword planner in AdWords, fanpage in facebook. Click here for tutorial how to check market online.