Niche Marketing

Please choose the most appropriate answer for each sentence.
  • 1

    Some entrepreneurs think that selling to the widest market is the surest path to success; they are hesitant to go after a market niche because they're afraid that they will lose business by ..... away customers.

  • 2

    But this 'take all .....' approach is not very effective.

  • 3

    It is difficult to ..... out if you market your business lacking a set of distinctive prospects in mind.

  • 4

    Entering a niche means that you will not be competing with many similar companies on price alone, and if you are selling products or services customized to the needs or ..... of a specific group of customers, you can frequently charge more.

  • 5

    The procedure begins with your market research: you should analyze your competitors, your best potential customers, and your ability to serve these customers so well that they will make you their vendor of ......

  • 6

    Market research can be compared to sticking your ..... into the swimming pool before you plunge in.

  • 7

    After you have learned which customers you want to reach and what their needs are, you can adapt your service or product to match their needs more nearly and ..... a message that reflects your customer as well as your business.

  • 8

    To decide whether a particular niche is right for your business, ask yourself if you can ..... its identity, services and products to address that market's particular needs.

  • 9

    You should also determine whether your target market is currently ......

  • 10

    The more that your business specializes, the more its market will see the value of your products or services because you are ..... directly to their unique situation.

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