Browsing: Marketing

A niche is a specialized market in which a business operates in. For example, every automobile company produces cars; therefore we have the automobile industry. In that same industry, we have certain niches, such as; the luxurious car niche, the high speed niche, the safety niche and the affordable niche. These niches represent different smaller percentages of the automobile industry. They are different from the general automobile industry, because their market is highly specialized.

Whether you like it or not, the world of business is a very highly competitive one. Business is a game and it takes a lot to eventually emerge as a winner. Winning however does require you find a way to remain in business irrespective of competition. Perhaps one of the most critical factor in determining who wins or lose in the game of business is knowing what not to do in the face of intense competition.

Branding is a marketing tool, and thus, it is a deliberate act. It’s not something you stumble upon; it’s a thing that is creatively developed. A brand is a living entity. It has its own lifespan, personality, and characteristics. Therefore, if you know you can’t make a difference (be useful), don’t try to be different (branding). The following are what you should know about branding – being different (uniqueness) and making a difference (usefulness).