A niche market – a way to save the business
The crisis in the company can take several forms, may be associated with a periodic decrease in interest in the product, but if this situation continues for longer, you should look for your services and products niche market.
What is a niche market?
A niche market is a very specific group of customers interested in a narrow package of services or products.
Advantages of activities in your niche market
– Customers are loyal to their suppliers,
– Possibility to raise the price above the price less specialized competitors
– Submarket niche is not cost effective for big corporations, so there is no risk of competition of this site
– Small market competition
– The price is determined by demand in a niche