How to Define the Market Niche?

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sakib40
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Joined: Sat Dec 21, 2024 3:21 am

How to Define the Market Niche?

Post by sakib40 »

When launching or selling a product or service, it's key to target the right market niche ; that is, the people who need it and would be willing to pay for it. Hence the importance of knowing how to define that target audience.



In the following lines, we give you some recommendations to vnpay database help you find the perfect segment for your offer.

Study the Market
Study demand to ensure there will be interested parties for your offering. To do this, conduct in-depth market research to identify the needs of your niche based on indicators such as:

age,
sex,
interests,
socioeconomic level,
profession, among other characteristics.
At this point, it is important to ensure that the number of people targeted by the development (whether brand, product, or service) is sufficient to make the business profitable.
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