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Showing posts with the label niche products

The Benefits of Niche Markets on Small Business Success

Small and large businesses use different approaches to successfully navigating their markets based upon the resources available to them. Large businesses reach for larger target segments while smaller businesses focus on attracting a smaller group of motivated customers. Niche markets offer an entry position for small business to start building their customer base before expanding into new niches. Small Business Does Well in Underserved Markets Small businesses are likely to succeed in markets currently not being served sufficiently by other businesses. They do so through creating brand recognition among those that desires their unique types of products and services.   Highly motivated customers will recognize the brand the next time they consider making a purchase. For example, it would be extremely difficult for a small business to compete against a large retail outlet by selling disposable pens. However, through selling unique pens, customized pens, embroidered pe