Things to Keep In Mind While Creating a Product for a Niche Market
Founder, Director of Avaali Solutions Pvt Ltd, Ms. Srividya Kannan shares her views on the things to keep in mind while creating a product for a niche market. The article was carried out in the online version.
High degree of detail and attention to clients’ needs and requirements is the core of niche marketing.
Srividya Kannan, Founder, Director – Avaali Solutions Pvt Ltd, feels building trust requires walking the talk (no exceptions), listening, authentically engaging with customers, continuing to innovate within the space to ensure value-added services to customers. However, it is also critical to keep costs under control. While these may be arguably true for any business, for a niche segment these become almost always imperative,” she enunciated.
The other factor to keep in mind, according to Kannan, is continuous investments on building skills. “To stay profitable and keep competition at bay, it is imperative to invest in skill building. Keeping the existing team focused to deliver results, and constantly working towards additional skill build is a good way to stay relevant in a niche market,” emphasized the young-preneur who carets to a very niche segment.