Once upon a time there were two soft drink companies. With the names Coca-Cola and Pepsi Cola, each tried with all its might to lure consumers to drink its product.
A more contemporary name for segmentation in today’s business environment is niche marketing.
Why is segmentation or niche marketing important to small businesses? If you were Wal-Mart, you could conceivably be all things to all people.
But as a small business, can you afford to serve the needs of everyone? What are some other reasons to focus on niche marketing?
A more contemporary name for segmentation in today’s business environment is niche marketing.
Why is segmentation or niche marketing important to small businesses? If you were Wal-Mart, you could conceivably be all things to all people.
But as a small business, can you afford to serve the needs of everyone? What are some other reasons to focus on niche marketing?
- Inventory costs
- Availability
- Customer service
- Separation
- Creativity
To read more about each reason, go here.
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