6A – Identifying Opportunities in Economic & Regulatory Trends

Economic opportunity #1

Opportunity: I notice that the souvenir at Disneyland are expensive. Although people really want to buy the souvenir, they are “refused because of the price”.  The unmet need is they have a thought to keep the memory in deep heart. So some online shopping website, like Amazon, or Outlets can provide cheaper toys for people who have this unmet needs.

 

2.

a.

I know it from my personal experience. When I came to Disney, and I found the price of toys were at least three times than usual.

b.

I believe that some people are rational and they will never waste money on a souvenir. The reason that they did not buy it because of the price. So other forms of the retail store take this opportunity to attract more customers.

C.

I think the children and couples in a relationship are more likely to have this unmet need.

d.

I think it is easy to exploit, because we can always see a child crying in front of the store because his mother refuses to buy him a toy.

 

3.

I have this belief because I also experienced it before. I am easily moved by the atmosphere, especially I am at Disneyland. Some people may see Disneyland as a common amusement park, but I think Disneyland is especially romantic. I think many people also have the same feeling as me. We want to buy something to keep a great memory, but we do not want to spend too much money on just a toy. Every time I go to Outlets and find Disney story here, I can not wait to buy a toy, and I even believe I “make profits”.

 

 

 

 

Economic opportunity #2

Opportunity:

People are more likely to buy luxuries to express their wealth. The more expensive it is, the more people want to buy.

 

2.

a. I know it from a textbook I learned in high school. It said that people use luxuries to differentiate themselves from other people. We normally say “low price lead to high demand” in macroeconomics, but the luxuries are different.

b. I always see there are more customers at higher price luxury stores. People are less likely to buy cheaper luxuries if they really want to express their wealth.

c. The people who are really wealthy,

d. I think it is also relatively to exploit. I find this from my experience. It seems like the “function” of the luxuries are proportional to the price.

3.

I had a strong feeling about the luxuries. I did not mean I bought it before, but my classmates in high school were crazy about luxuries. They always show off their $1000 shoes and nearly $2000 should bags. I feel like luxuries are a type of identification for them.

 

 

Regulatory opportunity #1

Opportunity: Because of COVID, China requires all citizens to stay at home completely for almost one month. No one can go outside of the neighborhood. So people can not go to the grocery store. Some companies, like freshhema, provide fresh food to people and the deliverers are tested COVID before he can deliver food. Suddenly, these companies got high profits because they are the only food resource for people.

 

2.

a. Although I am not physically in China, I read news and heard from some of my friends.

b. Because people can not go outside, and people can not live without food. So the company which provides delivery service offers great opportunity,

c. Every citizen in China can be a customer.

d. It is not hard to exploit since I think the food problem is always obvious.

 

3.

I think the Corona pandemic situation is not what we expected before, and people in China seldomly use delivery food service. But in this totally new situation, it is the only choice that people can get food. The strict stay-at-home rule is hard for people to implement and follow, but the delivery food service really helps a lot.

 

 

Regulatory opportunity #2

Opportunity: There is a kind of vocation is to help people buy stuff internationally in a professional manner. Because many kinds of stuff, like luxuries, makeup, shoes in some international brands are really expensive in China. The tariff is really high, so people do not want to buy luxuries in China, and they want someone to help them to buy from other countries. Gradually, it creates a new vocation.

 

2.

a. Almost all of my friends, classmates, and family members asked people for help. It is a very common phenomenon in China in recent years.

b. I believe this opportunity exists for three reasons: Firstly, the economic condition in China is getting greater. People have more money to buy what they want. Many people are not satisfied with local brands but want more international brands. Secondly, it is much cheaper to buy luxuries in some European countries or Japan, Korea, etc. Thirdly, some people find this opportunity to actually can make a lot of profits. Demand and supply are both high.

c. For people who can afford and also want to have a high quality of life.

d. I believe this opportunity is not very easy to exploit, because many people think it is not very profitable and will not take action. It is hard for some people because customers should build trust with the “professional buyer”. But it is hard to build trust at first.

 

 

3. I really think it is a great opportunity because the demand is really high. As long as people get rich, they will not be satisfied with the current situation.