The Power Of Niche Marketing
By Terry Stewart
Posted Friday, August 20, 2004
Have you ever been over whelmed by all the competition on the internet. All the other companies going after the same customers that you are. Well panick not the world wide web is a MASSIVE market place and the best strategy is to create your own market.
Dont Compete Be Unique
1. The benifits of niche marketing
2. Dont dissappear in the crowd
3. The importance of a niche business
4. Ways of creating niches
5. Dont re-invent the wheel
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1. Niche marketing is the best way for the smaller business person to level the playing field against the larger companies. Niche marketing is where you find a corner of your particular market which is exclusive to you. There are a few ways of finding your niche and this article is about some of the aspect concerning niche marketing
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2. The great thing about having a niche business is the fact that you are not struggling to compete against established marketers. Therefore you will not be invisible and you wont disappear in the crowd.Recreating products and concepts is a vital business skill I would go as far as saying it will keep you ahead of the game. Most big companies hire developers to improve on their products and service. So it is no difernt for the small business person.
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3. A way of developing a niche is to sell to people you are familiar with eg. You could be a ex chef selling Automatic self lighting ovens which cleaned itself every night.
Do you get it, if you are familiar with a certain business you can cater for it like no other company.
Also you can concerntrate on a smaller part of the market and become a specialist in that field. Like concentrating on helping diabetic people losing weight, instead of the whole weight loss market.
Just imagine for one moment that you were the only one selling automatic self cleaning cookers to the catering trade. You would corner the that market and make a fortune.
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4. The japanese are great at taking other's ideas and improving on them and they are not doing to bad are they? Great inventors like Henry Ford and Edison have created great inventions and others have taken them to another level. The Japanese have shown the imortance of understanding the power niche business that is why they are one of the wealthier countries in the world today.
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5. Creating niche business doesn't require you to invent the wheel, it only requires thinking of ways to improve it. That is where you will get more sales, and more referals. So that in the end your business will grow without competing with the bigger companies.
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In general you can see the benifits of niche marketing which is by cornering the market in your particular field,you differienciate your business. You avoid competing with the big boys. Therefore gaining your own exclusive market, which in turn will lead to more profits.
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