Judie D.

Bario March 01, 2021

Prof. Fernan Q. Abragan

1. Cite two or three ways on how to identify an opportunity for a profitable business?
 Examine and do some kind of survey on what is the most needed and
demand service in that particular locale.
-though examining and determining first the most needed service you will came
up to an idea wherein it will eventually click to the customers.For some sort of reason
since it is the most demand service base on the survey you partake, there is a greater
probability that it will successfully launch out.
 Find gaps in the marketplace
-look for very specific segments of customers that other companies do not serve,of
course there are a lot of things left unseen which could turn out that big if you are
courageous enough in taking risk and filling that gaps.
 Observe trends and be innovative
-most of the the profitable business that were made recently are the result of the
fads and trends, and since competition meant to be find everywhere, the business that
you are trying to build up should be unique and quite impressively appealing without
minimizing the quality of the product compare.

2. What is the importance of studying the supply and demand situation when it comes
to seeking business and opportunities.
-supply and demand is one of the most fundamental principal of business. These
two are the main key element factors why such business is thriving and getting
bigger.The importance of studying supply and demand situation when it comes to
seeking business and opportunities is very essential and crucial since it is root.If you
commit mistakes in any of the two it gives a massive impact to your business.In the
near future if you are planning to build a business ,demand and supply must be in a
stable relationship or else you will be having a terrible problem.