Page 86 - 100 Great Business Ideas: From Leading Companies Around the World (100 Great Ideas)
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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 benefits, as well as
understanding what needs to be done to ensure success.
100 GREAT BUSINESS IDEAS • 79
