How To Do It (Switch
Market Share)
Discover major changes in consumer buying habits by:
-
reading marketing research reports and trade association research forecasts;
-
observing current fads that could potentially turn into long-term changes;
-
observing new products that are growing in popularity;- and
-
analyzing changes in your own buying habits, especially when you stop purchasing an item
that has become obsolete and begin to buy replacement items with entirely different
characteristics.
Find products which are associated with a market switch by:
-
analyzing the advantage of new products to find those which are greatly superior and
will likely replace more traditional items; and
-
looking for new technologies or new products based on new concepts which are
revolutionary for an industry.
Look for a major product or service that is needed to meet changing consumer demand,
but has not yet been provided, and find a way to provide it.
When the major product in the market switch already exists, look for related services
or products that can be used in association with the major product.
Ensure that there is a demand for the product/service you would like to provide.
Key Questions
Can I think of any market switches that
have recently taken place?
Can I think of any market switches that may be
occurring now?
How can I take advantage of these changes in
consumer buying habits?
Can I address a current market switch by
providing the major product or service?
Can I provide secondary products or services
related to a new major product?
Have potential customers indicated a need for
the product/service I have in
To
Switch Market Share - Top
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