KEY TRENDS SHAPING THE TECH STRATEGIES FOR IDENTIFYING

INDUSTRY: TECHNOLOGY-DRIVEN BUSINESS

OPPORTUNITIES
- main things that are currently changing
and influencing the world of technology. -it means having effective ways to find new
business ideas that use technology to
MOBILE FIRST APPROACH:
create new business opportunities that can
- designing their websites and apps to work lead to success.
best on smartphones and tablets.
1. IDENTIFY PROBLEMS AND NEEDS:
- companies can ensure their digital involves understanding what challenges
products are accessible, user-friendly, people face and figuring out how to help
and effective across all devices. them with new solutions or improvements.

ARTIFICIAL INTELLIGENCE (AI): o MARKET RESEARCH: Study your

target market to understand their
- teaching computers to think and make
challenges and needs.
decisions like humans.
understand their challenges,
- automate tasks, like sorting data and frustrations, and what they need that
answering customer questions. isn't currently being offered.
o CUSTOMER FEEDBACK: Listen to
- Shopee Assistant, an AI-powered what customers say through surveys,
chatbot that helps customers with their reviews, and discussions to improve
queries, tracks orders, and provides your products or services.
product information without needing a For example, after someone uses
human to help. your product or service, you could
INTERNET OF THINGS (IOT): ask them what they liked or how it
could be improved.
-connecting devices to the internet using o ANALYZE EXISTING SOLUTIONS:
technologies like Wi-Fi and Bluetooth. Once Look at current solutions in the
connected, these devices can send and market and think about how
receive data. This data is used to track and technology can make them better,
control the devices, making them smarter more efficient, or more affordable.
and more efficient.
2. LEVERAGE EMERGING
CYBERSECURITY: TECHNOLOGIES: taking advantage of new
-digital security guard tools and systems that can help businesses
improve their operations and offerings.
-protects all your important information
online, keeping our data safe from hackers o AI AND MACHINE LEARNING: Use
and unauthorized access AI to automate tasks, improve
decision-making, and personalize
E-COMMERCE: experiences. For example, Spotify
creates personalized playlists based
-online shopping
on your listening history.
- convenience of buying things on the o BLOCKCHAIN: a digital record-
internet keeping system that keeps data
secure and easy to verify. since the
Businesses setting up online stores to reach data cannot be easily changed once
customers who prefer shopping from their it's recorded, it reduces the chances
computers or smartphones. of fraud
o VIRTUAL AND AUGMENTED
REALITY (VR/AR): Customers can
see how products like furniture or
clothes will look in their own space or
on themselves before buying.
 AR adds digital images or about what you sell and how you
information to the real world, helping price your products or services.
customers visualize products, like o SCALABILITY: This is the ability of
furniture, in their own homes before your business to grow without a lot
buying. VR, on the other hand, of extra costs. It means expanding
creates a completely new your business easily as demand
environment for users, allowing them increases.
to experience places or products as if o COST STRUCTURE: This involves
they were physically there. understanding and managing the
costs of running your business. It
3. ANALYZE THE COMPETITIVE
includes things like rent, salaries,
LANDSCAPE:
supplies, and other expenses.
How They Work Together:
Example of a Technology-Driven
o START WITH IDENTIFYING Coffee Shop for Students
COMPETITORS: step is about A new coffee shop designed
finding out which other businesses specifically for students can be built
are offering similar products or by following five strategies to
services in your area. You need to identify technology-driven business
know who they are, what they’re opportunities.
selling, and what they’re good and
bad at. First, by identifying problems and
o THEN DIFFERENTIATE YOUR needs, the coffee shop can focus on
OFFERING: Create something common student challenges, like the
unique that attracts to your target need for a quiet space to study and
customers. quick service for those on tight
o FINALLY, ANALYZE MARKET schedules. For example, students
GAPS: Look for unmet needs that often seek comfortable seating,
your competitors aren't addressing. power outlets, and fast Wi-Fi, making
customers want but that businesses these essential features of the coffee
aren't currently providing. shop.

4. FOCUS ON SPECIFIC NICHES: Next, leveraging emerging

technologies can greatly enhance the
o TARGET A SPECIFIC AUDIENCE:
customer experience. The coffee
the specific group of consumers most
shop could implement an app that
likely to want your product or
allows students to order ahead, pay
service, the group of people who
online, and even customize their
should see your ad campaigns.
drinks, reducing wait times and
o SPECIALIZE IN A SPECIFIC
ensuring they can grab their coffee
TECHNOLOGY: it means focusing on quickly between classes.
becoming really good at one certain
thing in the tech world instead of Analyzing the competitive landscape
being average at many things. is also vital. By researching other
o EXPLORE EMERGING MARKETS: coffee shops nearby, the new cafe
can discover what services they lack
5. CONSIDER THE BUSINESS MODEL: and provide something unique. For
considering the business model means instance, if competitors do not offer
thinking about how you will make money, student discounts or loyalty
how you can grow your business, and how programs, this new shop could stand
you will manage and control your costs. out by implementing these features.

o REVENUE GENERATION: This is Focusing on specific niches, the

how your business makes money. It's coffee shop can cater to students by
creating a study-friendly
environment, offering special
discounts during exam weeks, and
hosting events like study sessions or
coffee tastings. This targeted
approach will attract students who
are looking for more than just a place
to grab coffee.

Finally, considering the business

model is crucial. The coffee shop can
use a combination of traditional sales
and subscriptions, where students
can pay a monthly fee for unlimited
coffee. This model could provide
steady income and appeal to daily
coffee drinkers, making it both
profitable and appealing to students.

By following these strategies, the

coffee shop can effectively meet
student needs while integrating
technology to enhance the overall
experience.

A coffee shop designed for students

can thrive by employing five key
strategies. First, it should identify
student needs, such as a quiet study
space and quick service. Leveraging
technology, like an app for ordering
and payment, can enhance
convenience. Analyzing competitors
helps identify gaps, allowing the
shop to stand out with features like
student discounts or loyalty
programs. Focusing on this niche, the
cafe can offer special promotions
during exam weeks and host study
events. Finally, adopting a business
model that includes subscriptions for
unlimited coffee can attract regular
customers and provide steady
revenue.