Take advantage of a market switch.
When groups of consumers move from one type of product to another on a long-term basis, new business opportunities can result. Market switches create demands for new products and services.
Some Examples
- The switch from traditional styles of children's bicycles to BMX bikes provided an opportunity for a bicycle shop to establish a BMX racing club and racing track. This racing involvement helped the shop to capture a large share of the BMX market.
- A woman took advantage of the market switch from record albums to cassette tapes by packaging cassette recorder-head cleaning kit.
- To take advantage of the market switch from large to small cars, a company designed and manufactured bicycle and ski racks designed for small cars.
- An office machine repair service anticipated the market switch from typewriters to word processors and began to specialize in repairing word processing equipment. GTA business service. Toronto business directory
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