Opportunity Identification 6A

Identifying opportunities in Economic & regulatory trends

For this we will choose two economic and two regulatory opportunities

1) For the regulatory opportunities we will look at Trumps Flavor ban on vapes & Colorados new bill allowing to open marijuana cafe’s in its city.
1b) For the Economic trends we will look at the subcription based model many companies are adoption & The rise of  Independent content creators.

2) Trump flavor ban.
     (a) Source: https://www.nbcnews.com/health/vaping/federal-flavor-ban-goes-effect-thursday-many-flavored-vape-products-n1130466
 
Being someone who like fruity flavors and used juul to stop smoking I have always been on the loop with the news. This ban is implemented as a way to discontinue flavor vapes.
When there is a need for something there is always an opportunity

(b)The information stated on this article implies that such ban took place as of Feb 6 2020.    Unfortunately many people still use these products to stop smoking. Leading to them searching for such products.
In Venezuela very rare there is representation of such companies; even Latin America.
The opportunity is presented here into taking the whole process, talking to the right people and implementing a program to see the viability into expanding this to South America.

(c)The most likely customer to benefit from this opportunity would be people who want to quit smoking, enjoy fruit flavored vapes & do not have access to buying it. The good thing about this opportunity is that people who smoke are all over the world. So having that accessibility somewhere that it is very difficult to find, definitively helps.

(d) For this opportunity to be exploited is easy up until a certain point, If there is only one legal source or shop in a certain are there is much more control of it. I believe is this is brought to Latin America with proper execution there could be a majority of market control.

3) I believe I saw this opportunity because of my relationship with such products, because of my previous knowledge I am able to make judgment based on how have the news developed around such topic.

2) Colorado’s Marijuana cafes

(a) Source: https://mjbizdaily.com/colorado-ushers-in-2020-with-new-cannabis-market-opportunities/

(b) What leads me to believe that the opportunity might exist is this statement

• “Starting Jan. 1, licenses can be issued for “marijuana hospitality establishments” such as cannabis cafes, dispensary tasting rooms, marijuana bus tours and designated areas of hotels.”

(c) Most likely consumers would be anyone who enjoys this, tourists, and for medicinal purposes patients suffering from chronic conditions that might need this.

(d) Opportunity is relatively easy if taken an early approach, it can be quite to difficult to develop since there is a lot of people requesting permits.

3) I see this opportunity because of the same reason as above, I have kept up with the news and the marijuana market is giving billions in taxes to States. If these approaches are taken in its beginning stages of development it is much easier to thrive even with competition.

1) Economic trends

2) Subscription based economies

(a) Source: https://www.profitwell.com/blog/subscription-based-economy-trends

(b) For subscription based the opportunity lies beyond just paid subscription

(c)The most likely consumer would be anyone in the digital area. So many things are subscription based now that the old model of buying a piece of software or song is almost non existent.

(d) The opportunity is relatively easy to exploit due to its variations of implications that a person is able to do with a subscription based model.

3) I see this opportunity because it is proven to work, when developing an app or any other type of subscription based project the benefits outweighs the cost.


2) Digital Currency

(a) Source: https://www.brookings.edu/blog/techtank/2019/12/13/the-current-landscape-of-central-bank-digital-currencies/
With the boom of the bitcoin many companies including Facebook, have started to develop their own digital currencies

(b) Opportunity exists here because of the relatively young timeline of this. While new laws, policies and projects are developed we can see a rise on the world of the Digital currency.

(c) The consumer of this opportunity ranges from people all the way to governments. In this new digital age, cash is less and less used. Digital forms of instant payments are developed and banks are less needed everyday.

(d) This opportunity can be relatively easy to exploit due to the huge amount of different currencies, being digital or actual. A consensus must be maid on to how to use these currencies and which ones.

3) I saw this opportunity because the trends have shown how more and more companies, websites, stores are accepting different forms of payment. Not like before where only form was cash or card.