Definitions
Target market: is a particular group of consumers at which a product or service is aimed. Demographic: Provides details at the size of the population, gender, jobs and income SWOT: Stands for
Details
Niche market
- Niche market is a small segment of the total market.
- It is a segment within a segment.
- The features of goods and services are aimed at satisfying specific needs within a particular price range, quality and demographic.
SWOT
Strengths
- Things your company does well
- Qualities that separate you from your competitors
- Tangible assets such as intellectual property, capital, proprietary technology, etc.
- Internal resources such as skilled, knowledgable staff
Weaknesses
- Things your company lacks
- Things your competitors do better than you
- Resource limitations
- Unclear unique selling proposition
Opportunities
- Underserved markets for specific products
- Few competitors in your area
- Emerging need for your products or services
- Press / media coverage of your company
Threats
- Emerging competitors
- Changing regulatory environment
- Negative press / media coverage
- Changing customer attitudes towards your company
Personal SWOT Analysis
Strengths
- Cheap price, multi deal
- Ah