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Excerpt from Composition:
Advantages of a Niche Product Marketplace and the Relevance of Cost
The advantages of niche market segments are several. Initial, they boost sales of goods (such as ordinary clothing) for which the customer may not have got any need but the particular orientation in the product (such as TRAINING FOR MMA sports) builds a desire to have the logo as opposed to the need for the item itself. Second, niche markets (such because that used by the PPM mouth guard) provides an possibility to charge much more for items that may not really be greatly different or perhaps better for essential goal (i. elizabeth. protecting tooth during sports) than cheap generic alternatives. Third, niche marketing such as imitating the features of expensive watches in cheap wristwatches generates an industry attributable to pride and the desire to mimic the appearance of wealth and privilege. Sometimes, niche market segments (such while that pertaining to MMA clothing and high-end watches) permits the placing of a superior price; consist of cases (such as low-cost imitation watches), niche marketplaces focus on sales volumes rather than the high device price in the product.
Three Reasons Why Clients Value Exclusivity
Customers might value uniqueness because they associate it with superior quality, such as when it comes to high-end designer watches and the PPM mouth protect. Customers can also value uniqueness because it convey privilege and connections, such as in the case of new edition luxury motor vehicles with high-profile waiting times. Customers might also value uniqueness simply because persons sometimes delight in being the first to have a fresh product or being a member of a desired group, specially when it is also connected with flattering pictures.
The Concept of Breaking Away in Competitors and Three Illustrations
The TRAINING FOR MMA clothing collection has successfully chipped away at both equally ordinary (i. e. non-logo) clothing clothes as well as at other different athletics logo dress such as qualified NFL apparel. Likewise, the mid-range fully-functional chronograph watches (Seiko, 2009) have chipped away on the high-end goods that created the market in 1969 (Omega, 2009). Finally, the low-end non-functioning chronograph-appearing watches have got chipped aside at the two mid-range and high-end stop-watch watches.
Recommendations
JCPenney. (2009). Armitron Men’s All-Sport Watch. Retrieved November
09, 2009, from:
http://www4.jcpenney.com/jcp/X6.aspx?DeptID=56856CatID=57655GrpTyp=PRDItemID=1533e3cattrtype=attrvalue=CMID=56856%7c57495%7c57655Fltr=Srt=price%3bPRC%3bTrueQL=FIND=82cmVirtualCat=CmCatId=56856|57495|57655
Makkar. (2009). The PPM Sports Functionality Mouth shield. Retrieved November
09, 2009, from: http://www.makkaradvantage.com/what-is-ppm/
Omega. (2009). Fiftieth Anniversary Speedmaster Wathe. Retrieved Nov
09, 2009, from: http://www.omega.ch/index.php?id=1025
Seiko. (2009). Seiko Sports Chronograph. Gathered November
2009, 2009, rom: http://www.seikowatches.com/products/sportura/chronograph.html
Tapout, LLC. (2009). Tapout Mixed Martial Arts Clothing Store. Retrieved Nov
09, 2009, from: http://shop.tapout.com/
