100 Great Business Ideas: From Leading Companies Around the World (100 Great Ideas)

(singke) #1
100 GREAT BUSINESS IDEAS • 79

and new style can breathe new life into an old and long-established
formula.


In practice



  • Decide exactly which aspects to keep and what you want
    to change.

  • Decide whether you wish to alter the formula to appeal to a
    new target market, or whether you wish to simply make it more
    attractive to the existing market.

  • Put careful thought into why you are making a particular change
    and how it will appeal to its target market.

  • Market research can be a rich source of ideas for reinvention.
    What do customers dislike about the existing services available
    to them, and what alterations would they most want to see?

  • Be clear about the business impact and benefi ts, as well as
    understanding what needs to be done to ensure success.

Free download pdf