As the world and the internet fill up with so many companies offering the same product or service at comparable levels, one has to ask one’s self: ‘How am I ever going to be able to make an impact selling X to Y?’

One of the answers to this question is fashioning your company or service to appeal to a niche market. As consumers become more savvy about the product they buy and the corporation that sells it, having a reputation your potential consumer respects becomes incredibly important. And, with the internet and the multiple ways companies have to collect info on consumers, they can begin to target the customers who fall into their niche.

Take me for example, not only do I like to buy techno-gadgets and hip clothing, I’m also a active union member and have strong feelings on free trade agreements. A company that could offer me what I’m looking for while promoting their commitment to fair labor practices would, in my book, get at least a 10 to 15% advantage when comparing prices.

Effectively identifying the niche your company can appeal to, and then effectively communicating that information to the consumer, could prove to be an area of great growth and innovation in the years to come.

(This is where everyone else would post a cool link to a news story or point you to a website, but I don’t have that, just the random thoughts I get when I’ve got time to sit down at a computer).

| Managing Ideas, Gen-Y ideas, Marketing to college students, Open Innovation, Corporate Innovation | Email Article | Share on Facebook | del.icio.us | digg this

One Response to “Niche Marketing and Services”

1. Anand Chhatpar Says:
   February 2nd, 2007 at 10:17 am

   Check out http://www.ethicalshopper.com and http://www.schoolpop.com

   Ethical Shopper features products and companies that are socially conscious, environmentally aware, employee friendly, and community oriented.

   Every time you shop at School Pop, merchants give as much as 20% of the purchase price to the school you choose.

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