Question

what opportunities, emerging markets, trends, resources, etc. are in the market now for new business products and/or services? Why? Reversely what ideas and/or services are becoming extinct and what market characteristics have contributed to this?

Answer 1

Answer: There are immense opportunities that are emerging for the new business, products and services in marketplace. The technologies like Information technologies and digital technologies have changed the way in which companies used to do business. The high technology based products and services are now in more demand as compared to the traditional type of products and services. The new trends like online shopping has become prominent and the companies are using them as an opportunity to provide technologically advanced products and services to the customers. It is also seen that the companies are developing innovative ideas for service and product delivery to the customers by using the online channels. The new emerging markets like China in India also offer a good potential for the new products and services. With the rapid growth in the economies in the developing nations the demand for new product and services is on the rise in such nations. The affluence in the developing countries is rising and has helped in creating new global markets.

The old formats like brick and mortar retailers and the products and services that were based on the old technologies are under threat. This is majorly because the old technologies are getting obsolete and new trends and technologies are evolving.