I'm continually seeing the improper application of the concept of "niche."
A lot of new guys to entrepreneurship love to throw around how "niche" their idea is. It kills me inside.
What niche is not:
We are a mobile advertising company, but were not just any mobile advertising company, we're a mobile advertising specifically targeted towards women between of the ages of 21 and 25 around the Los Angeles area who have an interest in joining new social circles.
What niche really is:
We are a mobile advertising company that specializes in brand recognition. Our company offers unique services providing a targeted ad experience specifically to get consumers to remember your product, unlike any other service on the market.
In what niche is not, the company is just another copy of an existing company that specifically targets one group of people. That is called limiting your potential market, with a product that may be useful with many other markets.
In what niche is, it is a competitive service within a saturated market that takes a new approach to the industry. There is no limited market, just a unique distribution with unique tools for the job.
One of the biggest offenders in the local Seattle area has a GREAT product that everyone who has tried it loves it and continues to buy it... but... they specifically market it towards latino men who like soccer. I am not joking. Keeping up on their business and their sales, I'm often surprised why they chose to limit themselves in saying who their product was meant for.
I know I've brought this up a couple times, but I just thought I'd make an official thread for it because I see this happen all too much in brainstorms for new ideas. And of course, I understand there will be some of you coming to the "left handed asexual German kittens from Antarctica" is still a huge market and will support the niche that I hate... in which case best of luck haha.
Cheers.
A lot of new guys to entrepreneurship love to throw around how "niche" their idea is. It kills me inside.
What niche is not:
We are a mobile advertising company, but were not just any mobile advertising company, we're a mobile advertising specifically targeted towards women between of the ages of 21 and 25 around the Los Angeles area who have an interest in joining new social circles.
What niche really is:
We are a mobile advertising company that specializes in brand recognition. Our company offers unique services providing a targeted ad experience specifically to get consumers to remember your product, unlike any other service on the market.
In what niche is not, the company is just another copy of an existing company that specifically targets one group of people. That is called limiting your potential market, with a product that may be useful with many other markets.
In what niche is, it is a competitive service within a saturated market that takes a new approach to the industry. There is no limited market, just a unique distribution with unique tools for the job.
One of the biggest offenders in the local Seattle area has a GREAT product that everyone who has tried it loves it and continues to buy it... but... they specifically market it towards latino men who like soccer. I am not joking. Keeping up on their business and their sales, I'm often surprised why they chose to limit themselves in saying who their product was meant for.
I know I've brought this up a couple times, but I just thought I'd make an official thread for it because I see this happen all too much in brainstorms for new ideas. And of course, I understand there will be some of you coming to the "left handed asexual German kittens from Antarctica" is still a huge market and will support the niche that I hate... in which case best of luck haha.
Cheers.
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