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How Do You Niche Market?

 

Let's say you invent a new kind of
ergonomic chair. This chair is very comfortable and really helps
people who suffer from lower back pain. Now, what most inventors
would do when they come to me to market their product is they would
say, "Everybody will want my ergonomic chair. I want to first
market it nationally and then to the world." Then I ask my famous
question of how much money do they have for marketing, and I am
told it is a couple thousand dollars. So, my client wants me to
launch a national marketing campaign for a brand new product nobody
has ever heard of and I am supposed to do this with a few thousand
dollars. Not going to happen.

My advice for how to market this new ergonomic chair product is to
market it to a very specialized niche market and there are several
to choose from. The key is finding the market that most needs this
product as well as can afford this product. One niche market to
consider would be to market the chair to assisted living centers
for the elderly. Another niche market is Chiropractors who could
sell this chair directly to their patients who suffer from lower
back pain. There are many other niche markets that could considered
too. The key is to determine who has the most desperate need for
your product or service and then focus your marketing on that niche
market. If you are still confused, do this exercise. Find the
people who stay up at night worrying about the problem your product
or service solves and you have just found your niche market.