MARKETINVESTINGMONEY.COM

management manner - www.marketinvestingmoney.com

Menu


subcultures could be people who belong to a certain religion or are a member of specific political party.   Dont get hung up on


the type of niche you want to go after. Just make sure that you go after a niche. To give you a better feel of how niche markets can be separated, here are a few more examples of various niches:   People who are between the ages of 40 and 55 who have incomes over $55,000   Doctors   People who own homes that have an appraised value of $155,000 or higher   Lawyers   Accountants   People who own a Lexus, Acura RL, Toyota Landrover, Lincoln Navigator, Mercedes Benz S Class, or a BMW.   Members of the American Association of Retired People (AARP)   People who just purchased a $500 plus mail order product.   People who own boats and yachts   American Express platinum cardholders   Back and neck pain sufferers   Arthritis sufferers   Sleep disorder sufferers   Diabetes sufferers   Niches can be divided up any way that makes sense. It can be by occupation, income, car or house ownership and a host of other demographics, geographics, or psychographics.   How to Select the Right Niche   I often get questions from small business owners that have decided to market to a niche, but dont know what niche to market to. This is an important decision that must be researched carefully. Theres nothing worse than spending your dollars on creating custom products and services only to find that your niche doesnt want to buy them.   The following are several questions that you should ask yourself when choosing a niche in which to specialize:   Question # 1 - Can you easily and affordably contact the niche? Imagine how hard it would be to find people who are going to have car accidents within the next week. Yes, you read that correctly. Thats exactly what auto accident paint and body shops deal with on a daily basis.   Their niche, people with bashed up cars, is impossible to contact in advance. They have to market to everybody. These types of companies are forced to spend a lot of money on yellow page ads (where people go in times of emergencies) and "spraying and praying"