Assignment 6A- Identifying Opportunities in Economic and Regulatory Trends

Economic Trend: Increasingly diverse payment options are coming
https://www.entrepreneur.com/article/325070
Where you found it: 

• I found this article on Entrepreneur.com

What Leads you to believe that this information suggests an opportunity exists?

• The information in this article highlights the consumers want for alternative and more flexible banking models and payment methods. It gives examples like bitcoin and blockchain once being seemingly in every other news headline. But the main concerns of consumers is the speed and security of new ways of digital shopping. 

Who do you think is most likely to be the customer with this opportunity?

• Any consumer who wants a faster way to spend money will be the ones to try out the new methods first but eventually, the new practices will become standardized and everyone will be using it. 

Is the opportunity relatively easy or relatively difficult to exploit, and why do you think so?

• I think the opportunity is relatively easy to exploit because most people own smartphones and use credit cards, which is how the new wave of digital shopping will be implemented. so it wouldn't be that inconvenient for people to switch to a new, easier method.

Why did you see the opportunity?

• I think I saw the opportunity because I had a job in retail where I saw people pay using many payment methods, even checks. So I know that the need for speed and security when purchasing something is prevalent now more than it has been ever in the past.

Economic Trend: The shipping wars will continue
https://www.entrepreneur.com/article/325070

Where you found it: 

• I found this article at Entrepreneur.com

What Leads you to believe that this information suggests an opportunity exists?

• This article outlines the information that customers are increasing the priority that they place on the items that they want shipped, and that means free and fast. It mentioned Walmart, amazon, and target as major players in the shipping game right now with other companies trying to match their shipping rates. It then says that "providing a faster, more streamlined delivery process could prove a key differentiator in building your brand."

Who do you think is most likely to be the customer with this opportunity?

• The customer with this opportunity is someone who shops a lot online and someone who doesn't like to pay for shipping. 

Is the opportunity relatively easy or relatively difficult to exploit, and why do you think so?

• I think for online retailers it will be easy to exploit but it could prove to have an adjustment period because some companies rely on their shipping and handling fees a lot so there could be some new price negotiations that have to happen first. 

Why did you see the opportunity?

• I saw this opportunity because I shop online a lot and one of the main reasons I got an Amazon Prime account was because I liked that they had free two-day shipping on almost everything, so I related to the consumers they were referencing in the article. 

Regulatory Trend: Minimum wage in Florida
http://www.mysuncoast.com/2018/12/27/new-florida-laws-going-into-effect-January/

Where you found it: 

• I found this article at ABC 7 digital media website

What Leads you to believe that this information suggests an opportunity exists?

• The information highlighted in the article referenced that Florida's minimum wage was being increased from 8.25 to 8.46 an hour and at least 5.44 for tipped employees. It then went on to say that "Employees who are not paid the minimum wage may bring civil action against their employer or any person violating Florida’s minimum wage law."

Who do you think is most likely to be the customer with this opportunity?

• The customer with this opportunity is anyone who currently works for minimum wage in Florida or someone who is considering getting a job in Florida. 

Is the opportunity relatively easy or relatively difficult to exploit, and why do you think so?

• I think it could be difficult for employers to exploit because they have to come up with the money, but if they have the money to cover the pay increase, there is a way, but some places might have to fire someone in the long run if they dont have enough money.

Why did you see the opportunity?

• I saw this opportunity because my sister currently works for minimum wage in Florida so when I saw it I immediatley thought of her and how her pay would eventually be increased. 

Regulatory Trend: Hospitals will be required to post prices online
http://www.mysuncoast.com/2018/12/27/new-florida-laws-going-into-effect-January/

Where you found it: 

• I found this article at ABC 7 digital media website

What Leads you to believe that this information suggests an opportunity exists?

• The information in the article highlighted the fact that hospitals, under a new federal rule, will have to post  list of their standard patient prices online in a machine readable format that can be processed by computers easily. This could eliminate a lot of questions from patients who wonder what they will be charged after their most recent hospital stay. 

Who do you think is most likely to be the customer with this opportunity?

• The customer with this opportunity is anyone who is getting standard treatment at any Florida hospital.

Is the opportunity relatively easy or relatively difficult to exploit, and why do you think so?

• I think this will be hard for hospitals to actually do because it will hold them accountable to the prices that they have stated online but once it is up, I think the patients will find it very beneficial. 

Why did you see the opportunity?

• I saw this opportunity for two reasons, one being that my mom works in a hospital, Mayo Clinic to be exact so I immediately thought of her and the second reason being that two years ago in January of 2017, I was in the middle of a month long stay in a hospital where my parents found themselves asking the same questions about prices and what we would have to pay for all the treatments and procedures that I was receiving.