Monday, February 26, 2007

Evaluation of my blog.

Did an evaluation of this particular blog, well as a surprise its not $0.00 any more but $564 and some cents.
Its kinda cool but does it really make sense hmmmmm I really dont know or, lets put it this way I dont care.
Good enough to show off so I am happy. ;)

Monday, February 12, 2007

Niche Market(More, More, More)

The final and the very important entity for Niche marketing.

3. Always test-market.

Standard scenario----

Yes prior you launch your product ful throtle, assess the direct competitors you'll find in the new market niche and determine how you will position against them. For an instance, it's best to conduct a competitive analysis by reviewing competitors' ads, brochures and Web sites, looking for their key selling points, along with pricing, delivery and other service characteristics. That should be the standard Home work well you definitely want to do......................

Niche Market(More, More)

As I discussed how to pick up the right Niche, it is very important to say the right thing to you audience or to have the right approach to your potential clients.

2. Say the right thing.
When approaching a new market niche, it's imperative to speak their language. In other words, you should understand the market's "hot buttons" and be prepared to communicate with the target group as an understanding member and not as an outsider. For instance (Taking the example from my previous blog)

When your audiance is the community of Hydrolics engineers you should be ready with all the important terms and have an in depth knowledge of the things they require and what you have to offer them. In addition to launching a unique campaign for the new niche, you may need to alter other, more basic elements, such as your company tag line if it translates poorly to another language, for example.

Look at this product from BOSS International which serves a very particular application in the Civil engineering domain.


Have a look at the features and the kind of thing he has tried to put forward, you will notice it is very specific and would only be umderstood by a person who does that..........................

Niche Market(More)

Niche marketing can be extremely cost-effective. For instance, imagine you offer a product or service that's just right for a selected vertical or very work specific, such as software solution for Hydrology and Hydrolics. You could advertise on Engineering forums or do seminars in a close civil engineering community, which have considerably lower cost than advertising for broader audiences. So your marketing budget would go a lot further, allowing you to advertise with greater frequency or to use a more comprehensive media mix.

1. Meet their unique needs:

The profits you promise must have special appeal to the market niche. What can you offer that's new and provoking? Identify the unique needs of your potential customers, and look for ways to design your product or service to meet them.
Start by considering all the product or service variations you might offer. When it comes to marketing civil engineering software solutions, for example, not much has changed over the years. But suppose you were a company and you invented a product to design stormwater and wastewater models and may be software for analyzing and designing urban drainage systems, stormwater sewers, and sanitary sewersr. You'd have something uniquely compelling to offer a niche market--small parkeing lot contractors to big civil engineering firms.