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Your Questions About New Niches

William asks…

Why is it that modern mammals have out competed other animal groups in most of the big terrestrial niches?

Of course Mammals haven’t completely dominated every ecological niche. There are way more birds, reptiles, arthropods, and fish than us. However, it sure does seem like mammals have had an easier time taking over the big terrestrial niches that the dinosaurs had left behind. Why is it that mammals have managed to out compete most other groups of animals in those niches? Why don’t we see copious amounts of big flightless predatory(“Terror Birds”), and herbivorous(Giant Moa) bird species running around today like we see with mammals? Is it because mammals were more “intelligent”? Is there some quality that mammals have that puts them over the edge? Was it just some random factor? What was it?

New Niche Finder answers:

Mammals may not owe their original ascendancy to innate advantages–since they benefitted from chicxulub eliminating the dinosaurs that firmly held the big niches before they did. Since then however, mammalian dominance has owed much to endothermy. Mammals have far more energy than ectothermic crocs and other reptiles. In most circumstances, reptiles can’t win in direct physical fights. As for birds, that’s harder to explain. It could be the big birds were at a disadvantage because they were descended from volant birds, thus retained forelimbs which weren’t of much use in a ground niche.

Steven asks…

What exactly constitutes a niche in the market?

How specific is a niche in the market? For example would a type of restaurant such as a full service restaurant be niche in the market, or only a full service restaurant that serves Italian food? And if it is only a full service restaurant that serves Italian food that is a niche in the market, or something even more specific, such as a full service Italian restaurant that appeals to a particular demographic, who are willing to pay a particular price etc. Then is there some other term that I could use to describe a full service restaurant, when comparing it to other full service restaurants in the market?

New Niche Finder answers:

A niche is simply some feature that makes the restaurant unique or nearly unique in the market. It could be serving extremely authentic Italian, stocking a wide variety of Italian wines/cheeses, or having exceptional service. The restaurant might have an outdoor seating area to accommodate dogs.

Mark asks…

How fo you fill in a TV Niche that is above a fireplace?

I am looking for a website that would help me to cover up a TV niche above my fireplace. I am trying to hang a plasma.

New Niche Finder answers:

If you can’t find a web site, you could just frame it out with studs, like you were covering a door opening. After you’ve studded it out, cover it with wallboard and finish it like a new wall. You will need the studs to support the weight of the T.V..

Lisa asks…

What is the role of the niche market in today’s economy?

-how does it impact the economy?
-what are some trends in retailing that focus on niche markets?
-is there such thing as a niche marketer?

help i can’t find anything on the internet!

New Niche Finder answers:

Role of the niche market in today’s economy- -how does it impact the economy: See detailed notes below. It enhances competition, serves special category of customers, enhances value addition, creates employment, nourishes creativity.
-what are some trends in retailing that focus on niche markets? See what happens online niche marketing below.
-is there such thing as a niche marketer? Yes, see definition within the notes below.
A niche market also known as a target market is a focused, targetable portion (subset) of a market sector. By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. A niche market may be thought of as a narrowly defined group of potential customers.
A distinct niche market usually evolves out of a market niche, where potential demand is not met by any supply. Such ventures are profitable because of disinterest on the part of large businesses and/or lack of awareness on the part of other small companies. The key to capitalizing on a niche market is to find or develop a market niche that has customers who are accessible, that is growing fast enough, and that is not owned by one established vendor already.
Niche marketing is the process of finding and serving profitable market segments and designing custom-made products or services for them. For big companies those market segments are often too small in order to serve them profitably as they often lack economies of scale. Niche marketers are often reliant on the loyalty business model to maintain a profitable volume of sales. This also means theres a gap in the market. An often used technique for affiliate marketers. By seeking out smaller segments of larger markets, a website can be developed and promoted quickly to uniquely serve a targeted and usually loyal customer base, giving the affiliate a small but regular income stream. This technique is then repeated across several other niche websites until a desired income level is achieved.
Market niches are small highly-focused market segments. They allow even smaller businesses to be major market-dominant players in areas that can be relatively free of massive competitive struggle.
Geographic focus, demographic profiling, alternative distribution channels, modifications in products or services, variable pricing, new technologies — all these are possible ways of doing niche marketing: a highly concentrated form of target marketing that allows companies to zoom in on markets that may be small but whose profit potential may be large.
Niches can sometimes grown to tremendous size. A (former) head of IBM once went on record as saying that the market for personal computer ownership in the United States probably would never amount to more than five people. Bill Gates did not agree, and thought this niche market was worth developing. The rest is history.
There are two things to remember about niche markets and niche marketing. As with regular markets, the best way to spot them, understand them, and address them is through market research and market segmentation. Niche markets, like all markets, are driven by consumer wants and needs. The more closely one understands the characteristic drives and purchasing patterns of any market, niche or otherwise, the more likely success is to follow. The second thing is that niche markets don’t require a company’s total focus. A large company can address both a large market and a niche market at the same time — indeed, the smaller size and tighter focus of a niche market can make it the ideal target for experimental or developmental testing of products or services.
Most companies, whether big or small, direct their marketing to select niche audiences. Even the country’s largest manufacturers target carefully pinpointed market segments to maximize the effectiveness of their programs and often tackle different niches for each product group. Hewlett-Packard, for example, markets all-in-one machines that print, fax and scan to segments of the home office market, while targeting larger businesses for higher-priced, single-function units.
Niche marketing can be extremely cost-effective. For instance, imagine you offer a product or service that’s just right for a select demographic or ethnic group in your area, such as Hispanics or Asians. You could advertise on ethnic radio stations, which have considerably lower rates than stations that program for broader audiences. So your marketing budget would go a lot further, allowing you to advertise with greater frequency or to use a more comprehensive media mix.
Taking on a new niche can be a low-risk way to grow your business, as long as you keep in mind several important rules:
1. Meet their unique needs. The benefits you promise must have special appeal to the market niche. What can you provide that’s new and compelling? Identify the unique needs of your potential audience, and look for ways to tailor your product or service to meet them. Start by considering all the product or service variations you might offer. When it comes to marketing soap, for example, not much has changed over the years. But suppose you were a soap maker and you invented a new brand to gently remove chlorine from swimmers’ hair. You’d have something uniquely compelling to offer a niche market–from members of your neighborhood pool to the Olympic swim team.
2. Say the right thing. When approaching a new market niche, it’s imperative to speak their language. In other words, you should understand the market’s “hot buttons” and be prepared to communicate with the target group as an understanding member–not an outsider. In addition to launching a unique campaign for the new niche, you may need to alter other, more basic elements, such as your company slogan if it translates poorly to another language, for example. In instances where taking on a new niche market is not impacted by a change in language or customs, it’s still vital to understand its members’ key issues and how they prefer to communicate with companies like yours. For example, suppose a business that markets leather goods primarily to men through a Web site decides to target working women. Like men, working women appreciate the convenience of shopping on the Web, but they expect more content so that they can comprehensively evaluate the products and the company behind them. To successfully increase sales from the new niche, the Web marketer would need to change the way it communicates with them by expanding its site along with revising its marketing message.
3. Always test-market. Before moving ahead, assess the direct competitors you’ll find in the new market niche and determine how you will position against them. For an overview, it’s best to conduct a competitive analysis by reviewing competitors’ ads, brochures and Web sites, looking for their key selling points, along with pricing, delivery and other service characteristics.
But what if there is no existing competition? Believe it or not, this isn’t always a good sign. True, it may mean that other companies haven’t found the key to providing a product or service this niche will want to buy. However, it’s also possible that many companies have tried and failed to penetrate this group. Always test-market carefully to gauge the market’s receptiveness to your product or service and message. And move cautiously to keep your risks manageable.
How does the small business person compete with the Wal-Marts of this world. You don’t have the capital to use the department-store approach. The key for small businesses is to master the art of niche marketing.

1. Profile Your Customers
First, profile who your customers are likely to be. Take an hour or two with a friend or business associate or spouse and describe in detail the characteristics they are likely to possess.
2. Where Do They Congregate?
Next, decide where those kinds of people are likely to congregate on the Internet. If you haven’t discovered Internet mailing lists and news groups, there’s no time like the present. You’ll find many of your customers congregated into neat niches right here.
Both mailing lists and news groups are on-line discussion groups. Here’s the difference between them:

Mailing List. The discussion group’s comments all land in your e-mail box either in single messages or, if you’re not a glutton for punishment, in a daily digest form. Mailing lists tend to involve more serious discussion.

News Group. This type of discussion group is found residing on your Internet Service Provider’s computer (much like AOL and CompuServe forums). You look at the comments others have made and add your own. Caution: a lot of fluff and stupidity here. But who says your potential customers have to be highly intelligent?
Mailing lists and news groups are highly targeted since they focus on very specific topics. In each discussion group you may find as many as 1,000 to 10,000 regular readers with a special interest in that topic. There are discussion groups on marketing, doll collecting, auto racing, Celtic civilization, management development, cycling in the Himalayas. You name it: it’s probably there somewhere. And if you don’t find one you like, you can start your own.
3. Communicate Your Message Where They Congregate
Let’s say you want to sell Civil War books (or are they “War-between-the-States books” in the South). I’d find a mailing list made up of Civil War reenactors and find some way to participate.
You don’t come on strong: COME BUY MY BOOKS. You’ll be hooted down (flamed) by half the members. You wait for your moment. Your great-great uncle was wounded in the Battle of Kenesaw Mountain, Georgia. When the discussion turns to Sherman’s March to the Sea, you tell what you found in Uncle John’s old letters you discovered among your grandmother’s papers. At the end of your e-mail message, however, you’ll include your e-mail “signature” which gives a mini-ad for your business.

Sandra asks…

What niche market do you want to see filled?

I am looking for suggestions about niche markets that you believe should be filled e.g. i am very tall(6’8) and average build, even so i find it hard to buy clothes because as the length increases the width is too big

New Niche Finder answers:

Cafe/restaurants that sell healthy children’s meals , instead of everything with chips.

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