In , a year-old beer company headquartered in the suds Mecca of Milwaukee, Wisconsin was in trouble. Sales had been declining for years, and there was little hope of a rebound. The beer market was dominated by titans MillerCoors and Anheuser-Busch and their behemoth advertising and marketing budgets. PBR had discovered a niche. With almost no mass-media advertising or marketing, Pabst sales grew by more than 5 percent the following year.
Entrepreneurs are known to be voracious readers — a quality that serves them well in the formative stages of launching a business. If you share this love of devouring information from knowledgeable sources, then you too have probably heard from scores of sources far and wide — from marketing textbooks to expert business mentors — to narrow the focus of your business. However, if you're like many small business owners, you heard this advice and then did an about-face to do things your own way. This is a natural inclination — many small business owners feel skittish about excluding anyone from their service offerings, so they intentionally keep their options wide open, marketing to everyone they can.
Target the Right Customers | Niche Marketing Strategy Explained
A niche market is a focused, targetable portion of a broader market in which specialized products or services can be sold. Establishing a niche market helps businesses gain competitive advantages. Learn more about niche markets and how to find one for your business. A niche market is a segment of a larger market that has its own demands and preferences. Companies focus on niche markets to better cater to a specific consumer than competitors who target a broad audience.
Elevate your student experience and become a data-driven institution. Launching a product? Testing an ad campaign? Market research surveys help you get better answers. They can be used to access key demographic information, and then you can find out just about anything—from what customers like about your brand to what kind of product your market needs.
Writing a personal statement for a Law school is one of the most challenging things because you have to show logic, strategic thinking and God knows what else! I had to spend about an hour talking to various Law experts hired by this company until I finally found a person who was on the same line regarding my thoughts.