 |
How to Create a Niche Market for your Business
Author: Gabrielle Melisende  | Posted: 11-03-2007 | Comments: 0 | Views: 36 | Rating: (50)  (?) 
Have you ever wondered how so many beauty salons, web design companies, attorneys or Mexican restaurants can exist in the same geographic area? Especially in small populated areas? Maybe the demand is high. Or, perhaps some of these businesses have set themselves apart by targeting a niche market.
A niche is a special area of demand for a product or service. Not all beauty salons, for example, are created equal in price, customer service, convenient location and hours, scheduling, stylist expertise and so on. The same is literally true for all businesses; web design, marketing consultants, hardware stores, attorneys. The list goes on.
Creating a niche and marketing to both your general and niche markets is a smart business and marketing strategy. You cannot expect to start a business with millions of world wide competitors (via the Internet), hundreds or thousands of regional competitors and a dozen or more local competitors, and instantly, or easily, gain a fair market share without creating a niche market.
Every business has a niche. The key is identifying what that niche is. An online retailer like Amazon.com has a different niche than competitors Barnes & Noble or Borders who rely more on developing a local presence and foot traffic. A few years ago DHL came out with a brilliant commercial pitting itself against the leading overnight delivery service. DHL didn't claim to be number one or lower priced. Instead they capitalized on a niche market, being number two and a reliable back up service when you, the consumer, need it most. It was a brilliant campaign.
Identifying or creating a niche means digging deeper into what sets your business, product or service apart from the competition. The typical marketing question is "Why would I buy from you instead of Company X?" Your answer will likely just scratch the surface and match what many competitors could claim. This is where you dig deeper. Look at your location, hours of operation, years of experience, price point, friendly staff, response time to customer inquiries or processing orders, the quality of your product or delivery of your service, personalized attention, and so on.
For example, marketing easy access to your business from a major road or highway is a niche that should drive traffic and make sales soar. If you are the only video store in your area play it up. If your video store carries a large selection of hard to find movies in VHS format and stays open until midnight, those are two more niche markets. Being a new wholesale supplier in a regional area is big news to your local city as well as the region, creating multiple niches for your business overnight. Claims of being the first, the only one or the original are unique niche selling points that no one else can (legitimately) claim.
Don't wait for your industry or market to become saturated to identify and market your niche. Start now. Work both your general market as well as your niche market to develop a solid foundation for success so you can survive when competition does heat up. As your business grows or your industry changes so will your niche opportunities grow and change.
© 2006 Gabrielle Melisende. All rights reserved worldwide. Reprint rights: You may reprint this article as long as you leave all of the links active, do not edit the article in any way, give author credit and follow all ArticlesBase.com publisher guidelines.
Rate this Article:
Current: 0 / 5 stars - 0 vote(s).
Article Source: http://www.articlesbase.com/marketing-articles/how-to-create-a-niche-market-for-your-business-115432.html
|
Submitting articles has become one of the most popular means of generating quality backlinks and targeted traffic to your website. Join us today - It's Free! |
|
Got a Question? Ask.
Ask the community a question about this article:
Frequently Asked Questions
Automated customer service
By: ManuelGarcia | 17-11-2007
Hi, I am looking for reliable articles that will give me some information about automated customer service. Can someone pls provide me with a website? Thanks Manuel
Is an iPod Shuffle - 1 GB a good prize for an ...
By: wickedtruth | 17-11-2007
Is an iPod Shuffle - 1 GB a good prize for an online contest/drawing? If not, do you have any other suggestions?
How to run a web 2.0 site?
By: xiaonanhuang | 12-11-2007
how to run a web 2.0 site?
The Best SEO company is?
By: SEO | 05-11-2007
Which companies you consider as the best SEO companies?
I am looking for someone who can research and ...
By: jimjasper | 02-11-2007
I am looking for someone who can research and indentify some good keywords for my website? Any suggestions.
Research on industry in Internet
By: williamabraham | 02-11-2007
I am looking for someone to do research on the Internet on a industry segment for Canadian market. I don?t want to spend days collecting data. Can you recommend any person or company doing this?
Q&A Powered by: 
Latest Marketing Articles
Tell Them Why They Should Buy
By: Karen Scharf | 21/08/2008
Our customers don't know our products inside and out. They do not make the mental leap from features to benefits. We need to show them, to spell out exactly what our product or service will do for them.
The Number One Killer of Information Marketing Success and How to Avoid It
By: Caleb Scoville | 20/08/2008
The longer you hang onto an idea without implementing it, the less viable it becomes. It's better to implement and learn from your mistakes than to obsess over it for weeks or months that you could be focused on more important things.
Want to Attract New Dental Patients? Think About a Referral Contest
By: James Erickson | 20/08/2008
A referral contest is a great way to get your current patients bombarding you with new, quality patients. Referrals are always the best new patients, because they generally come in already liking you. So, why not do something to double, or even triple the number of referral you receive?
Relationship Marketing: Lead Scoring for Success
By: Christian Fea | 20/08/2008
Developing a relationship marketing platform for your business is an important step in every marketing campaign. Having a relationship marketing plan for your business puts the focus of your business on customer fulfillment and strong customer relationships.
5 Powerfull Tips For Optimizing Your Viral Marketing Campaigns
By: Paul Baican-Vist | 20/08/2008
The media has focused recently more on Viral marketing, or "refer-a-friend" email campaigns. These campaigns are making more active the recipients of promotional emails to forward the messages to their companions. They were garnering both positive and negative comments from customers, privacy advocates, and industry pundits.
The main issue are the...
The "Secret" of Voice Broadcasting Exposed
By: David Seldon | 20/08/2008
Voice broadcaster exposes a little-discussed yet obvious "secret" that has major implications for those considering using voice broadcasting. Those considering utilizing voice broadcasting in their business should consider this before spending any money for voice broadcasting.
Article Submission Services: How To Choose The Right Company
By: Deep Arora | 20/08/2008
These days the mantra for modern business is marketing. Marketing plays an integral role in your end results of sales for your organiation. While you may understand the benefits, for many the process of article submission may be better left to experts.
How to Design a Slick and Professional Website
By: Chris Coleman | 20/08/2008
It's amazing how quickly business changes. Before the internet, the only contact you had with customers was using the phone and face to face.
Now, due to the advent of e-commerce via the internet, customers can discern much about your company without leaving their office or home.
More from Gabrielle Melisende
Success is in the Details
By: Gabrielle Melisende | 08/01/2008 | Business
A quick guide about how to plan for the success of your business and avoid common mistakes, includes an easy to use checklist.
The Holiday Season, a Ripe Time to Market
By: Gabrielle Melisende | 31/10/2007 | Small Business
Marketing does not take a holiday. Learn how you can use the holiday season to cash in on one of the best times to market your business.
Web Site Design: How to Plan for Success
By: Gabrielle Melisende | 16/07/2007 | Internet
Want your web site to be successful? Read the #1 Web Design Tip.
Scrapbooking, the New Secret to Success
By: Gabrielle Melisende | 24/05/2007 | Small Business
Scrapbooking is breaking down barriers and crossing boundaries into Corporate America. Discover how scrapbooking can help you grow your business and more.
Minding your Business From the Inside
By: Gabrielle Melisende | 16/02/2007 | Business
The importance of taking care of your business from the inside, regardless of the size of your business, cannot be overstated. Running a clean business, adopting good accounting and business practices, and more will help you build a solid foundation for success.
How to Find a Legitimate Work-from-home Business Opportunity
By: Gabrielle Melisende | 14/01/2007 | Home Business
Legitimate work-from-home businesses do exist. Many people in your local area are successfully working from home with reputable companies. Know what you want first, then where to look for the right work-at-home opportunity for you.
A Road Map to the World Wide Web: Web Site Planning and Preparation
By: Gabrielle Melisende | 05/01/2007 | Internet
At some point your business will be ready to enter the World Wide Web. When it does, your web site will be a living, breathing entity. A little research, planning and preparation will save you from making costly mistakes or ending up with a dead web site.
Prospecting: the Search for Customers
By: Gabrielle Melisende | 05/01/2007 | Marketing
Prospecting is all about finding customers. Learn ways to include prospecting in your overall marketing plan to grow your business, customer base and more. Traditionally used in sales-driven industries, prospecting can benefit any business.
|
|
Marketing 
