Niche Marketing VOLUME 3, ISSUE 7 March, 2014 The word “niche” comes from a French word that means to nest. Niche marketing is targeting a product or service to a small portion of a market that is not being readily served by the mainstream product or service marketers. Rural Entrepreneurship & Business Development Update ALABAMA A&M UNIVERSITY COLLEGE OF AGRICULTURAL, LIFE AND NATURAL SCIENCES Getting started and establishing a strong business requires certain steps: Identify the specific niche market you want to serve, and all its characteristics. These could be demographic (types and characteristics of the people in the market), geographic area, pricing structure, costs of servicing the niche, expected obstacles, and required fees or licenses. Write down your goals for your family and your occupation. Then decide if becoming a niche marketer is compatible with your long-term family and occupational goals. Decide what resources, capital, land, labor, knowledge, special skills or talents you have for undertaking niche marketing. Determine any resources you lack, and how you will make up for them. Develop a business/marketing plan. Getting the Help You Need You will likely need advice and help to plan and establish your niche marketing business. One of the best sources of help is people who are doing something similar. Find out who is doing what you hope to do and learn from them. Seek reference material from libraries, the Internet, teachers, Extension agents and specialists, and the news media. There are risk in beginning any new business venture, but with planning you can be successful. There are many opportunities in niche marketing. List of products/services that fill a niche: Bottled milk and ice cream Hay for horses Homestead cheese Pastured pork Free-range chickens Grassfed beef and lamb Organic vegetables Truffles Freshwater prawns In-tank (live) tilapia Horse boarding Niche marketing can be done in any business even beyond farm related businesses. Small Farms Research Center, Alabama A&M University 4900 Meridian Street James I. Dawson Building, Room 219 Normal, AL 35762 Small Farms Research Center Background. The Small Farms Research Center was developed to assist small farmers with limited resources in Alabama’s underserved communities. The center was first developed in 2000 to assist minorities, especially women, African Americans and underserved individuals improve their farm management practices, given ones condition and resources. The mission of the Center and the Small Farmers Outreach program is to assist all small and limited resources farms effectively deal with risk management and food safety issues and provide them with informational sessions. The Center has also expanded its outreach efforts to meet the needs of entrepreneurs and businessman. The center is located at Alabama A&M University in the Dawson Building. The center specializes in following areas Marketing and Business Plans -Record keeping and Loan Application -Identify alternative enterprises -Personal Management -Legal Issues -Finances -International Business and Procurement -Accounting Issues -Taxes -Business Development -Conducting seminars on Government programs and other issues For more information about us give us a call at (256) 372-4970 and 1-866-858-4970. Website: www.aamu.edu/smallfarmers