Monday, February 12, 2007

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.

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