Explore BrainMass

Explore BrainMass

    Strategies for Capturing a Niche Market

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    What are some strategies a new firm would implement to capture a highly specialized/differentiated niche market from another company?

    This niche market is currently receiving high quality service at middle-to-premium prices.

    How would the incumbent firm protect their existing market and grow revenues in the face of this new competition?

    © BrainMass Inc. brainmass.com October 1, 2020, 7:16 pm ad1c9bdddf
    https://brainmass.com/business/differentiation-strategies/96940

    Solution Preview

    This niche market is currently receiving high quality service at middle-to-premium prices.

    Company needs to ask itself the following questions:
    What are our core competencies?
    Are our processes creating value?
    What are our tangible and intangible resources? Are they efficient for our business?
    What are our primary and support activities in our value chain? And how can they be improved?

    Companies need to follow four characteristics:
    Valuable capabilities
    Rare capabilities
    Costly-to-imitate capabilities
    Non substitutable ...

    Solution Summary

    Almost 300 words to provide a strategy for capturing a middle-to-premium niche market as well as maintaining their revenue in the face of competition.

    $2.19

    ADVERTISEMENT