top 5 rules to master niche product marketing!
TRANSCRIPT
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Top 5 Rules To Master Niche Product Marketing!
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Niche Product Marketing – Applicability For Businesses!
Not all businesses are alike…
Solo-business Owners
Small Business Owners
New Entrepreneurs
Large Business Enterprises
Neither are their assets…
Resources
Capabilities
Preferences
A specific set of
management choices based on assets
But, business decisions are governed by…
Possibilities
Investments
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Niche Product Marketing – Applicability For Businesses!
Today, there are two marketing choices available for all marketers…
Mass marketing Niche marketing
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Niche Product Marketing – Applicability For Businesses!
To stand apart from competitors , new businesses need millions of dollars….
Unfortunately, not all businesses are so wealthy….
What’s the Solution???
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Niche Product Marketing – The 89% Solution to 100% Problem!
Find your riches in niches!
Here, is a 89% solution to the problem…
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Niche Product Marketing – What is it?
Niche marketing is all about…
Narrowing down your target market to match up
your brand assets that rightly fit into consumer
needs!
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Why Niche Product Marketing?
Because, small is beautiful…
No. of items
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Niche Product Marketing – Small is Beautiful!
NOT everyone is your customer…
Because…
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Niche Product Marketing – Small is Beautiful!
The narrower the niche The stronger the business
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Niche Product Marketing – How to work out on your niche!
Find what is it that you actually love doing?
Find what is it that you are actually good at; things that others can’t do?
Find what others will value and pay for?The sweet spot
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Niche Product Marketing – Top 5 Rules!
Rule#1Identify the sweet spots…
• What appeals your target market niche?• What is unique in what you offer them?• Which service variations distinguishes you
from competitors?
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Niche Product Marketing – Top 5 Rules!
Rule#2Understand the hot buttons of your market niche…
Understand how customers distinguish the range of products in the market-price, quality, brand, imagery, market positioning and so on…
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Niche Product Marketing – Top 5 Rules!
Rule#3Apply the right marketing mix to market service differentiation …
Company marketing mix1
Company marketing mix2
Segment1
Segment2
Segment3Company marketing mix3
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Niche Product Marketing – Top 5 Rules!
Rule#4Choose the right competitive advantages…
• How many differences to promote?• Which differences to promote?
ProductDifferentiation
ServicesDifferentiation
PersonnelDifferentiation
ImageDifferentiation
Channel Differentiation
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Niche Product Marketing – Top 5 Rules!
Rule#5Find a viable social media channel to evangelize your business offering…
• Assess the strength of the social media channel you considering to promote your business
• Find the right marketing channel to ignite conversation
• Spread the word-of-mouth about your business • Scrutinize the potential return on investments
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Well that’s not all!....there are more such niche marketing rules that can establish success thresholds for marketers to rank high faster!
Brush-up the thumb-rule…“Do what you love to do Do what you are good at Do what others value you for”
Remember: Successful niche firms takes larger market share! So, “sell less & serve more!”