To compete with other businesses and win the heart of customers over nowadays, you need something unique that nobody else can copy. You must create a niche for your business different from your other competitors and positions you prominently.
To create any kind of niche, you must:
** Know your exact target audience:
You have to think like your target audience or customers. Know their exact needs, wants, dreams, goals, problems and interests. You need to put yourself in their shoes, think like them. Observe and discover their unrealized needs. Give them polls and survey to know what exact they are thinking. Create a new proposition and teach the market about your new offering.
** Know your Competitors:
Think!Use your brain power. Ask yourself what could you offer that your competitors can't. Brainstorm, generate as many ideas as possible and select the one with the most potential to succeed.
Now, having selected your niche, continue to develop your product or service. Does it continue to appeal to your target audience?
To stay ahead of your competition and be successful and profitable over along period of time, use this process several times in your business career.
** Build a Sustainable Competitive Advantage:
Sustainable competitive advantage is the prolonged benefit of implementing some unique value-creating strategy based on unique combination of internal organizational resources and capabilities that cannot be replicated by competitors.
"In a crowded marketplace, fitting in is failing. In a busy marketplace, not standing out is the same as being invisible."
Kindly reach us for your feedback and if you need more informative articles.
Content created and supplied by: Orbits247 (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform See More