Wednesday, March 4, 2009
Milk Your Niche
I want you to “Milk your Niche”.
Your “niche “is the “place” your product belongs. It’s where yourcustomer shops. You’ve gotta know your niche.Who comes to your Niche?
What’s their age…their sex? How much do they spend? What prices do they favor? You must Qualify your product for “fitting” your niche.
Your product must be worthy of this spot, this niche. Can it survive? Will it sell?“Displaying” your product is one thing - selling it is another. You want a perfect “fit” from the get go. A slow mover in any niche….just won’t survive.
Our “Ballback” basketball return stumbled into a perfect market niche - aimed right at our most likely customer.
The product is low-tech….(maybe no-tech)…consumer affordable andkind of fun. It’s attractive to any sport fan, but mostly those shooting hoops. You know, those alone in their own driveway. Have you noticed, there are a lot of driveways? We did, and we went after them.
We focused on feeding the same market….the same retailers….the same consumers.
We milked our niche!
My book tells tales of pursuing our niche with our Fab Five sport products. I want you to find your niche….and “milk it”… the same way.
Posted by Tom Kershaw - Inventor In Paradise at 7:08 PM
Labels: Inventor Videos
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