Is Your Market Niche Viable?

Posted by m4bmarketing under Marketing
From http://www.m4bmarketing.com 5560 days ago
Made Hot by: JanetG on August 26, 2009 1:53 pm

To be effective in marketing your small business, identifying and competing in a market niche is the only way to go. The reason is that it is more cost effective, your marketing communication is more targeted and you can achieve greater results. You may want to consider the following before you start competing in a particular market niche.

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Comments

Written by lyceum
5355 days ago

Susan, I have to save this entry for future reading. Have you read my comment on Shawn's interview with Cindy King on BizSugar blog?

Have you heard about the concept category creator? Example: First ordinary travel suitcases and then they added wheels to them. It was first catered to the aviation personnel so they could move their luggage in a quick way. Then it got popular with the travelers and how you almost see wheels on every luggage.

The company I have started to work with is belonging to "the fruit juice segment which is part of the total beverage market." They also have fine bottled water and a new "category creator" that is really a specialized product within the fine water niche.

What kind of tools are you using in order to identify viable market niches, including competitors, customers and trends? I am thinking of testing to get date through "Human Intelligence Tasks" powered by Amazon's Mechanical Turk. I have been talking with Brent Frei of SmartSheet regarding this matter.

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