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Business Advice

A world of possibilities

Emerging along with trends are lifestyle changes and new needs, and of course, money-making possibilities
ST701 Editorial Team - June 22, 2010
By: Sheila Lim
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A world of possibilities

Our universe never stops evolving, and with each new “evolution”, plenty of fresh business opportunities are thrown up. These are some examples of the recent global trends: more women are staying single, human capital is increasingly mobile, the world is going green and baby boomers are entering retirement. Emerging along with these trends are lifestyle changes and new needs, and of course, money-making possibilities. Let me give you an example:

Business theme: One with the world

Target market: I know many avid travellers who are single. Most of them hold jobs with good income, and have few or no family responsibilities, so they’re able to take off for holidays on a whim.

The “problems”/needs: Few women like travelling solo. Many avoid doing so because they feel that they’ll be more susceptible to crime, and would rather not risk their safety in foreign lands.

Travelling companions may not be easily available for various reasons, such as difficulty in timing their vacation period with friends because of work schedules, and different preferences with regard to holiday destinations, budgets and activities.

Opportunity/Challenge: They are likely to travel more often if there are organisations that are able to match singles with similar preferences and make them feel comfortable enough to travel with strangers.

Solution: Find ways to provide them with the security of travelling in a group, the flexibility of enjoying holiday activities, and opportunities to make new friends. For instance, offer “Going Solo” packages for the adventure-loving, “One for the Road” trekking trips for nature lovers and “Single-minded” for shopaholics or foodies.

In any marketing effort, there will be barriers to surmount, but there is no boundary as to how creative we can be in attaining our goals. An idea that seems stupid or sounds incredulous could work if it meets the needs of the target consumers, as Steve Jobs and his team at Apple have shown us. And that’s when the money comes rolling in.

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