Six Strategies for Successful Niche Marketing
Arun Kaile Long tail marketing is a method to grow sales while reducing the cost per sale by targeted approach, optimizing product supply chain to niche markets. This approach allows them to sidestep the competition in huge open markets. Offering products as per the customer’s preference within their disposal through appropriate distribution will reduce marketing costs and increase sales margin. The following six strategies can be implemented by a company to gain good profits for sales of their products and services Target Carefully: Identifying markets where there is a distress about the existing products or the consumers are in need of a new product for their own purposes. Such a market acts as good target, and the product that would be offered as a substitute to existing product or new product should be better in terms of consumer’s preferences and performance. It is not easy to find target markets, but they can be found through good research and study to fulfill the customers liking. Listen to you Customers: There are lot products that are not advertised, but the consumers know about these products. How? It is through online rating and mouth publicity about the products. A company should always listen to what their customers have to say about their product and act immediately to make it better. The advantage of online ratings and comments is that consumer’s state their likes and dislikes about the product and that feedback will help the producer to act and make the product better as consumers liking. The great American beer festivals in which, the small brewers participate every year to approach the professional critics and passionate beer drinkers. Control Production Costs: A company might offer a wide range of products and variations within a product. But it is not must for the company to have inventory of all the combinations, variations offered in the catalogue of the product. When a customer places an...
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