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IDENTIFICATION
OF BUSINESS
OPPORTUNITIES
 1. Listen to your potential
clients and past leads
 - when you’re targeting
potential customers listen to
their needs, wants, challenges
and frustrations with your
industry.
2.Listen to your
customers
- when you are talking to
your customers listen to
what they saying about
your industry, products,
and services
3. Look at your competitors
-analysing your competitors will help
you identify key business opportunities
to expand your market reach and
develop your products and services.
4.Look at industry trends and insights
-subscribe to industry publications, join
relevant associations, set Google alerts
for key industry terms and news and
follow other industry experts on social
media.
According to karen kolins
(2012), products provide
customers with 4 types of
utility or benifits:
A. Time utility- this pertains to
the value to a consumer of
having a good or a service
available at a convinient time.
B. Place utility- this refers to
the value to a consumer of
having a product available at
a convinient location.
C. Ownership utility- this
value is created through the
transfer of a products of
ownership
Form utility- this
pertains to the value
consumers get from
changing the
composition of products.

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Business Opportunities

  • 2.
  • 3.  1. Listen to your potential clients and past leads  - when you’re targeting potential customers listen to their needs, wants, challenges and frustrations with your industry.
  • 4. 2.Listen to your customers - when you are talking to your customers listen to what they saying about your industry, products, and services
  • 5. 3. Look at your competitors -analysing your competitors will help you identify key business opportunities to expand your market reach and develop your products and services. 4.Look at industry trends and insights -subscribe to industry publications, join relevant associations, set Google alerts for key industry terms and news and follow other industry experts on social media.
  • 6. According to karen kolins (2012), products provide customers with 4 types of utility or benifits: A. Time utility- this pertains to the value to a consumer of having a good or a service available at a convinient time.
  • 7. B. Place utility- this refers to the value to a consumer of having a product available at a convinient location. C. Ownership utility- this value is created through the transfer of a products of ownership
  • 8. Form utility- this pertains to the value consumers get from changing the composition of products.