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Your Questions About New Market Niches

Chris asks…

What would be the right questions to ask a radio station when conducting market research?

The radio station wants to expand their market, from 22-50 year olds to 16-22 aswell. I need to make a list of questions to ask the management team of the station in order to give suitable advice regarding their decision.

New Niche Finder answers:

Well my first instinct would be to ask how you can “focus” on about 3/4 of the radio listening public? This is a very differentiated consumer base.

Next…what is the reason for pursuing the expanded target market? Overall ratings increase? Increase in a specific demographic, even at the expense of another? Reverse declining share of market? Increase revenues from a specific niche advertiser?

Finally, I’d want to discuss the issue of cannibalization… Likely losses among one class of existing listeners in order to penetrate this new group. I’d ask them to explain how a 45 year old listener could ever be expected to keep tuning in after he or she has heard the programming and music you need to play in order to attract a 16 year old listener! (and vice-versa)

Is this a hypothetical (e.g. School project) or a real situation? It sounds pretty bizarre to me.

John asks…

How to make a strategic Marketing Plan to sell Basmati Rice in Gulf countries?

Indian and Pakistan basmati rice has big demand in Gulf countries. There are many brands available, yet required to know the total potential of basmati rice in the GC.C countries? If you can get the potential of each country (U.A.E, Oman, Saudi, Qatar, Baharain & Kuwait) and the major market share for major brands, would be essentail to know. What promotions , when (period) and what would be the budget for the promotion to promote your owen brand of Basmati rice ?

New Niche Finder answers:

Undertake or commission market research to discover the retail rice prices, key market players and niche (if any). Basmati rice from Pakistan is often much better quality than Indian, who often repack and sell it as Indian basmati. Also have business contacts in the Middle East, Pakistan and India. See profile and blogs at http://www.myspace.com/tyneham

Paul asks…

is there a market for repairing womens underwares and lingerie?

im not looking for the niche market. it needs widespread appeal. sometimes underwares get holes.

New Niche Finder answers:

It’s a great idea

Sandy asks…

Which of the following combinations of factors are thought to lead to marketing success?

1) Entrepreneur’s experience to deal with stress and the choice of customers.

2) Getting short term sales and getting through the initial stages of the venture expeditiously.

3) Marketing innovative products and lessening competitive pressures.

4) Targeting a niche market with a customised marketing mix and the entrepreneur’s experience.

New Niche Finder answers:

U need a mixture of all

Betty asks…

Can anyone suggest a good oil to use in Yamaha’s MT01?

The owners manual specifies 20w40 oil but doeasn’t say whether to use mineral or synthetic. I also have an aversion to bike oils since they appear to be oil companies’ way to expensively market niche oils. I’ve always used full synthetic car oils and have had to problems at all from wet clutches.

New Niche Finder answers:

I ran into this years ago when racing a yz 490 MOTOR oil is designed for motors .They lack a key ingredient for IN RUNNING GEARS .As in transmissions there for the best oil for your motor/transmission is yama lube or i also like honda lube either is worth the slight difference in price (GEARS AND CLUTCH not cheap). Hope this helps. Good luck wear your safety gear and have FUN.

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