Discovering New Product Opportunities with Problem Inventory Analysis

of economic scarcity. Such changes can be expected in government policy, consumer behavior, competition, and in the development of a psychology of scarcity. To survive in this new business environment, firms must develop new, responsive marketing strategies. Important among these are reconsideration of the product mix, modifications in price policy, changes in promotional and advertising strategy, and developments in channel management. Long-range planning under conditions of scarcity, however, may require consideration and implementation of more comprehensive strategies such as: inventing backwards; demonstrating social awareness in pricing, employment, and competitive practices; more aggressive market research and intelligenc work to anticipate future changes; awareness of the firm's contribution not only to the economy but to the society as a whole; and the possibilities for converting shortages into new product opportuniti . Current indi ations are that conditions of scarcity will be an integral part of the American business environment for many months and possibly years to come. To maintain and improve his company's position under these con itions, the effective marketer must be aware of the total environment and develop marketing strategies to respo d to it progressive y and productively.