Identifying Market Opportunities
42. Most firms (although not necessarily all) have a reasonably good understanding of how sustainable business practices such as energy efficiency benefit them, i.e. in terms of direct cost-saving. Less obvious are benefits that arise from positioning as sustainable businesses.
43. To position themselves effectively, firms need to have a good understanding about how consumer preferences in relation to sustainability issues are evolving in specific market segments of interest to them and what particular market opportunities are arising as a result. Consideration needs to be given not only to what purchasers and consumers in our traditional markets will be demanding going forward, but also whether similar expectations can be expected in the emerging consumer markets of China and India.
44. We propose that NZTE work with business interests to develop better and more pro-active market intelligence services focussing on what is being demanded by consumers in key market segments, and those who influence consumer behaviour such as supermarket buyers. The emphasis should be on trying to anticipate how consumer preferences are evolving so that New Zealand firms can position themselves ahead of their competitors. To keep this exercise focussed, we also propose to concentrate, initially at least, on a few key sectors only such as tourism and food and beverage.
45. The government's sustainable procurement and the sustainable households' initiatives will enhance opportunities for New Zealand businesses to benefit domestically from investment in sustainable business practices. Proposed actions under the eco-verification initiative will also assist firms with the development and marketing of sustainable products and services.
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