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Five Reasons Why Market Research is Necessary for Your Business

Strategy Driven

What kind of people constitutes your niche market? With the help of market research, you can not only figure out your niche market, but you can also pin down your specific customers. Once you have mapped out the profile of niche customer, you will be able to identify the actual size of your market correctly.

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How to Build a Brand | N2Growth Blog

N2Growth Blog

Don’t fall into the trap of resting on laurels and assuming that a great product or niche market will endure the test of time without constant attention to the shifting needs of a fluid marketplace. Even category dominant brands can fall into rapid decline as obsolescence sets in.

Brand 271
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Navigating the Seas of Entrepreneurship: 7 Pitfalls You Need to Avoid as a Small Business Owner

Strategy Driven

Selecting an oversaturated market can also make it far more difficult for your business to excel, so it is recommended to pick a niche market that you can dominate in. Not Defining Your Target Market. A business that intends to serve everyone often ends up serving nobody well. Not Having Adequate Capital.

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Tips to Make Your Digital Marketing Agency a Success

Strategy Driven

You can introduce yourself and your digital marketing agency with great ease and comfort. Remain focused on your niche: You may find yourself compelled to offer your services to everyone, but you must first find out a target or a niche market. Develop Comprehensive Procedures. Focus on Your Own Branding.

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Research: Self-Disruption Can Hurt the Companies That Need It the Most

Harvard Business Review

In the traditional model of electricity generation, large power plants produce power at a centralized location, which operates at a considerable distance from the points of consumption. And firms operating in more competitive markets incurred approximately $600M higher cost of self-disruption than those in less competitive markets.

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Why Apple Has to Become More Open

Harvard Business Review

That can be a powerful marketing technique if you have the market muscle to pull it off. At the moment Apple can get away with this behavior, because it so powerful in the niche markets in which it operates and it has a small array of products. Over time, openness tends to win out in the market.

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0511 | Larry Downes: Full Transcript

LDRLB

What he said was when you see them entering the market as these worse-but-cheaper alternatives, that’s when you needed to start really investigating what those technologies were and how they were going to ultimately replace yours. The managers just don’t have the tool set often to operate.