Wednesday, April 15, 2009

Small business and the wonderful world of niches

One of the things Sears Roebuck became famous for is their Craftsmen tools, especially their socket wrenches, which are mechanical wrenches. Once, when I was buying one of these wrenches I was confronted with options of “Good,” “Better” and “Best,” a strategy for which Sears is also famous. When I asked about the difference between the Better and Best models I was told that the Best model had more notches, or teeth, inside the mechanism. This would allow for finer adjustments to be made when tightening a bolt or nut. Plus, in a tight situation, the extra notches make the Best model work, well, best.

For the past 30 years, the marketplace has increasingly become like that “Best” socket wrench; every year, it acquires more notches. Except in the case of the marketplace, notches are called niches (I prefer “nitch,” but some say “neesh” – tomato, tomahto). And just as increasing the notches in a mechanical wrench allows for finer adjustments, niches create finer and more elegant ways to serve customers, which they like – a lot.

Click here to read more...

Online Request for SBDC Counseling




No comments:

Post a Comment