Posts Tagged ‘Niche marketing’
Steps to find your niche market
December 16th, 2010 | 
Author: 
Step 1 – The product
Not go into details here, since I’m assuming you have a product or service ready to promote. If it is not the case, then a market survey is the solution. But do not think you have to spend thousands of dollars in market research. Read the next step and see.
Step 2 – Define the niche
You have competitors that seek to draw the attention of your potential customers to which promotional bombarded with noise. When you position yourself, you take the advantage to convey that you are there to serve their specific needs. Segments and communicate them to the listeners. It distinguishes you from the competition.
Define it does not require large market research. Just simply ask your current customers or people you think may be your ideal market. You talk to your neighbor, your family and your friends. You stop a person on the street and ask a few questions. If the niche you have in mind, this will just ask. Search on Internet forums and blogs. To be aware of what they say and keep on asking.
Example: If you’re one of my faithful readers will remember that I asked editorial suggestions. This article is the result of your suggestions. Just ask and I went with what I asked. Others prefer to write what they think is good. We write what you ask!
Posted in Business Marketing, Business Tips | 
Tags: Business Marketing, market research, Marketing, niche market, Niche marketing | 
2 Comments »
Benefits and steps to choose a niche market
Niche marketing is knowing how to find a small market segment, specific, but potentially profitable, to design and sell products aimed at him. But what happens when you’re everything to everyone?
The result is obvious. More promotional costs, less focus because they know who to target your products and downtime.
Unless you are Walmart (Walmart works and large-scale niche), your energies should be directed to the unique approach of a segment to increase sales opportunities with less effort and money.
Consider the benefits of choosing a niche market
1. Lower costs
When we know what market we serve, we direct our promotional resources and our energies to it. For example:
Realtor:
Market: Single mother looking for their first home.
Age: from 33 to 36.
Revenue: Between $ 45,000 and $ 50,000 annually.
Area: A radius of 50 kilometers.