Even during
an economic crisis, there is room for niche marketing and potential sales
growth. You can still differentiate and
gain a competitive advantage, as long as you target the right segment in the
right strategy; emphasize the fact that you can help consumers save or make
money, which will, in turn, bring you
money!
An ideal
example reflecting the above is James Reinhart’s ThredUP online marketplace for
children’s used clothing; this 3-year-old business/concept has been excitingly
accepted by many parents, who can either make some money out of their kids’
outgrown clothes or save money by buying for their kids, good-conditioned,
branded, low-priced clothes.
What is your niche marketing strategy during
this economic crisis?
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