Skip to main content
Business LibreTexts

10.3: Identifying Business Opportunities

  • Page ID
    4042
  • Learning Objectives

    1. Explain how an idea turns into a business opportunity.
    2. Describe the four types of utility provided by a product: time, place, ownership, and form.

    An idea turns into a business opportunity when it has commercial potential—when you can make money by selling the product. But needless to say, not all ideas generate business opportunities. Consider these products that made the list of the “Top 25 Biggest Product Flops of All Time” (WalletPop, 2011):

    • Bic underwear. When you think of Bic you think of inexpensive pens and disposable razors and lighters. But disposable underwear? Women didn’t find the idea of buying intimate attire from a pen manufacturer appealing, and the disposability factor was just plain weird.

    Figure 10.3

    10.3.0.jpg

    There might be many creative ways for Bic to extend its product lines, aside from the disposable underwear idea. Can you think of a product idea that might be more successful for Bic?

    Kevin – bic – CC BY-NC-ND 2.0.