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Is niche marketing a good idea?The highly competitive markets of today are forcing marketers to come up with innovative and unique solutions in their marketing strategies.The fact is the obstacles and choices that are faced in the decisions of positioning a product or service in the market often can look like a brick wall.Selling and marketing today can often stand as a metaphor for a brick wall.If you were to hit the brick wall randomly with a hammer what would be the effect? There would hardly be any evidence that you had even been hitting it. You might knock off a few chips but come back a day or so later and there will be no evidence you were even there.That is the same effect of any broad marketing and advertising campaign.One may make a sale here or there but overall the effect is minimal and certainly not long-lasting and any marketer wanting to place his or her product or service on the market wishes for the ultimate in advertising success-name recognition.But imagine instead of hitting the wall all over one concentrated on just one brick.Now the demolition of the wall (and our metaphor for niche marketing) will begin to have some success.Highly lucrative results can be obtained by concentrating a specific advertising effort on a designated niche market.
Niche marketing is really the key to successful small business marketing.Larger companies may have the resources to reach millions of people but virtually any size company can concentrate their efforts on a small tightly defined market. The same companies can utilize their resources however small to research the market carefully and identify the best potential niche market that has an urgent need or problem that can be solved by their product or service.Every large business began as a small business searching for their particular niche market.While the smaller businesses don't have the capacity (and many times the desire) to support a huge global market they can use niche marketing as a stepping stool for getting to that point. |
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