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Chapter 2. Identifying Valuable Opportunities > Social and Demographic Change

Social and Demographic Change

Another important category of change that generates entrepreneurial opportunities is social and demographic change. Social and demographic changes open up opportunities for new technology businesses by altering people’s preferences and creating demand for things where demand had not existed before. For instance, the demographic shift of women into the workforce, and the corresponding increase in demand for speed in food preparation, created the opportunity to introduce many types of frozen food into the marketplace.

One important type of social and demographic change that creates opportunities is a social trend. For example, the opportunity to produce deodorant was the result of a social trend that led the majority of the population to believe that body odor was offensive. While there is actually no medical or health need for people to mask body odor, the development social trend to believe that body odor is offensive made it possible to create products that mask that odor.


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