What would be the most enchanting way to taste the success in a small business other than selecting and targeting a specific niche where you have the capabilities and potential to market your benefits? However, when it comes to a niche market, one may doubt whether to focus on a narrow niche or a broader one. Most of the people have argued that a narrowly focused niche market would bring scores of sales to a small business where there are no much dollars to invest in promotional activities. If you have noticed in the industry of internet, the sites that bring millions of sales specifically keep on focusing on one specific niche area. For an example, anyone who is interested in online business would know about Weblogs since this site brings millions of dollars from the Google Adsense program. However, what should be noted here is that, this is not a site that focuses on a wide range of businesses, and the prime business behind Weblogs is to allow internet traders to create blogs and to network with each other. So that, the focus here is narrow and the earnings really get boosted and yet, the question goes now is what is the difference between a narrow niche and a broad niche? I have a listed a shorted list of examples below which you find interesting.
Broad niche market examples
· A company that produces facial cream for ladies who have skin problems.
· A garment business that only manufactures Bamboo clothing for ladies, which is really good for their skin.
· An ice- cream company that produces high quality and very expensive ice- creams for upper class people.
Narrow niche market examples
· A company that only produces bleaching facial creams for ladies who have skin problems.
· A garment business that only manufactures Bamboo clothing for ladies who are above excel size.
· An ice-cream company that produces high-quality and very expensive alcoholic ice-creams for upper class people.
Hope you enjoyed this writing and if you have something to ask, do not be hesitated to contact me via nichecrunch@hotmail.com
Small apparel factories in Asian countries do benchmark in their niche markets by promoting CSR initiativesIs it possible to make million dollars with specifc niche market?
3 comments:
Really an interesting marketing thought. Well done
Useful one
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