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What is different about my business that makes it stand out from the competition? To make your business stand out you need to find a narrow focus, a specialty that makes your product or service unique to a specific customer. Instead of trying to reach a broad, general market in your area, concentrate on becoming the best for a small segment of the market. For example, if you are a . . .

Bookkeeper—focus on keeping books for small mom and pop restaurants.
Candy maker—position your candy in a gift shop rather than where other candy is sold.
Desktop publisher—focus on the publishing needs (newsletters, membership materials, and promotion brochures) of non-profit organizations.
Web site designer—focus on specific market segments.

G Reference:

Finding Your Niche: Marketing Your Professional Service, Bart Bradsky and Janet Geis, Community Service Institute Press, 1992.

8 Internet References:

www.nichemarket.com

American Marketing Association, www.ama.org

P Red Flag:

A word of caution. Before you decide on the focus, be sure you determine there is sufficient market share (sales volume) to support your financial goals.

What is the image people have of my business? To establish a special image—the perception of the value of your business in the customer’s mind—consider the best choices you have for making an impression. For example, do you want your image to be . . .

Formal or informal?
Local, regional, national, or internationally focused?
Aggressive or relaxed (laid back)?
Sophisticated or homey?
Specialized or generalized?¹

Observe how other businesses (especially your competition) establish and maintain their business images. What catches the attention of consumers and entices them to decide which business to choose? What image captures the customers you want?

G Reference:

Improving Your Company Image: A Do-It-Yourself Guide, Sylvia Blishak, Crisp Publications, Inc., 1992. "Every organization has an image . . . and projects it in a certain way . . . an image is an energy source as constant as the force of gravity."

G Tip:

Create the image your customer wants, not what you want. Base all your actions and promotions and Web design on that image. A positive consistent business image is a great asset to a company.

What value or benefits do I offer people that my competition doesn’t offer? The value of a product lies in providing benefits to consumers that will make their lives better in some way, feel better about themselves, save them money or time, or add to their business profit. To position and promote your business as different from the competition, focus on benefits rather than the features. What is the difference? A feature describes the item or project, i.e. "available in sky blue," "durable plastic," "five moving parts," etc. A benefit describes the how, what, and why the item or project is good for you, i.e. "completes the job in less than a minute," "does the work for pennies a piece," "offers a two-year warranty," etc.

Benefits motivate people to buy. Businesses that solve problems for people will thrive. At the beginning of this century businesses that save time for people, offer quality goods, and consider the environment will find promising niches. Analyze the advertising statements and phrases in catalogs, magazines, newspapers, and on packages and instructions. Learn from the marketing experts how to focus on benefit values to the customer. For example (just to mention a few), customers want . . .

Convenience (save time)
Personal service (home delivery)
Economy (save money)
Dependability (safety)
Assurance (quality guarantee)
Status (one of a kind)
Advantage (knowledge)

What do your customers want? What do they consider the advantages—features and benefits—of your product or service? What do they consider the disadvantages? Use Decision Worksheet 22 to list your thoughts. Take a realistic look at both advantages and disadvantages because both form the basis on which your business competes.

+ Insight:

"People don't buy for logical reasons; they buy for emotional reasons."

John Sculley

G References:

Words That Sell: The Thesaurus To Help You Promote Your Products, Services, And Ideas, Richard Bayan, Contemporary Books, 1989.

Marketing Without Advertising, Michael Phillips and Salli Rasberry, Nolo Press, 1997.

Target Marketing For The Small Business, Linda Pinson and Jerry Jinnett, Dearborn Financial, 1996.

+ Insight:

"Intelligent marketing is marketing first and foremost focused on a core idea. All your marketing must be an extension of this idea: the advertising, the stationery, the direct mailings, the telephone marketing, the Yellow Pages advertising, the package, the Internet presence, the whole thing. It isn't enough to have a better idea; you need to have a focused strategy."

Jay Conrad Levinson

PRODUCTS/SERVICES: ADVANTAGES AND DISADVANTAGES FOR CUSTOMERS Directions: List and describe all your products/services from the customer point of view, outlining the advantages and disadvantages.
PRODUCTS/SERVICES	ADVANTAGES		DISADVANTAGES
PRODUCTS/SERVICES	SPECIAL FEATURES/ FUNCTIONS	BENEFITS TO CUSTOMERS	DISADVANTAGES
No. 1


No. 2


No. 3


No. 4


No. 5


No. 6


No. 7


No. 8


No. 9


No. 10

In addition to focusing on the uniqueness and benefits of a product or service, a niche marketer must keep aware of changes in business cycles and how the timing of the introduction of a product or service affects customer buying. Everything cycles in and out as trends or fads in a market. Items, themes, names, colors, textures, and technologies change continually to entice the consumer.

A business that is first to identify or start a trend or fad can be very successful. But, unless the business keeps up with the cycle or fails to understand how its offerings benefit the lifestyle of the consumer, it is left behind. The trend or fad that fuels your business today may not fuel it in the future. Keep up with changes and forecasts through current publications such as the American Demographics, Business Week magazines, and other design and industry publications.

All businesses are part of the broader economic picture from both a national and international perspective. All businesses, large or small, at some time in the various stages of their development are affected by economic changes. A home or small business may seem too small to be concerned, but issues such as rate of inflation, international trade agreements, or a tax adjustment can affect your marketing effort and bottom line. Stay informed through contacts with your networks, trade associations and business advisory team. Keep up with current affairs through various media reports and the Internet.

G Reference:

"How To Tell Fads From Trends," Martin C. Letscher, American Demographics magazine, December, 1994.

+ Insight:

One way to look at positioning your business well in the market is trend-tracking. "This means tuning in on the current trends at work in society, and re-aligning your business to take advantage of these trends. Trends usually start small, gather momentum and go for ten years or more—unlike fads which rise suddenly but have a shorter life-span of two or three years."

Joan Coultas

Chapter 6: Connect With Your Market," continues with "Plan Distribution and Sales," "Promote Your Business," and "Write A Marketing Plan."