Your Questions About Benefits Of Niche Marketing
Paul asks…
Which of the following would best benefit the development of niche marketing?
A. a decline in the cost of advertising on radio and newspapers enabling firms to more efficiently reach a wide audience
B. a Supreme Court ruling that limits the market share individual firms in a market are allowed to serve
C. a growing acceptance of free trade agreements such as NAFTA
D. a manufacturing improvement enabling firms to more efficiently design and produce specialized products for small groups of consumers
Sam D. Mann answers:
It depends… If it is a niche market then none of the above might apply. Advances in technology will not further enhance the “buggy whip” niche market. Right? Throw away B,C,D in a case like that and refocus A to build activity awareness. Long shot because how many more people can you entice into using “buggy whips”? In this case you need to find who they are and where they live and own that space… For more information (if serious) contact me at www.phoenixstrat.com for a consult.
James asks…
How to Find Internet Niche Market Ideas?
Let’s think about how to find Internet niche market Ideas together.
If idea will work, everybody who on this page now will benefit from it.
INFORMATION – this is the real business.
Remember book of Bill Gates: ” Business with speed of idea”
Sam D. Mann answers:
Find out google blog related to Niche Market
http://blogsearch.google.co.in/?hl=en&tab=wb
Ken asks…
Is This A Good Business Plan?
I am going to develop a sales/order management system that would allow companies to create, manage and track quotes, purchase enquiries, sales orders, stock management and so on…. basically it would manage the end to end process of sales within the business.
My idea would be to sell the software product for a 1 off price and then a cost per user license. I would also sell maintenance support to ensure a steady income supply.
Do you think this is a good idea? and what niche market would benefit most from such a system.
Cheers
Sam D. Mann answers:
Hi,
Do a search for ERP, it stands for “Enterprise Resource Planning”.
I quote from wikipedia:
This is very common in the retail sector, where even a mid-sized retailer will have a discrete Point-of-Sale (POS) product and financials application, then a series of specialized applications to handle business requirements such as warehouse management, staff rostering, merchandising and logistics.
Basically it would “manage the end to end process of sales within the business”. I think your idea is fabulous, just a bit late. A company called SAP is an established multi-billion dollar ERP vendor.
But still, there are a LOT of smaller companies who sells the same solution.
It is a good business plan with pretty wide niche.
All the best!
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