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Product Differentiation in a Saturated Market

One of the questions that we often get from our clients is "How can we stand-out from other companies that are doing the same thing we are doing?".

This can be frustrating to those that have just started their business and encounter numerous companies that are providing the same products and services. This was an obstacle that MTS had to tackle in the early stages of our business development. It seemed that everywhere we turned we encountered grant writers, web developers, companies that focused on business development, people that write business plans and a host of other businesses that focused on working with the same audience that we target. 

We devised a simple plan to help us determine our niche in an over-saturated small business market. It took time and a lot of assessment and re-evaluation but finally we came up with what works for us. Since business is an ever evolving venture, our evaluation of the products and services we offer and the market that we target will always have to be re-evaluated just as often as we review and revise our business plan. These are the most important pieces of advice that we offier our clients:

• Understand that being a business owner means constant review, evaluation and re-working of your business plan.
• Think of ways that you can create a niche by analyzing your strengths and weaknesses and those of other businesses in  your area.
• Get to know other business owners in your area and see how they promote their products and services.
• Ask your customers what it is about your business that attracted them and made you their final choice.

One of the most important keys to successfully determining your niche is to know your strengths and weaknesses. Knowing your strengths will allow you to clearly focus your services and tailor your business to suit the needs of your clients. Also, building a strong relationship with your clients will allow you to better imporve upon your business strategies. 

MTS can help you to assess your business and guide you in the process of finding your niche. Let us help!

Mokyva Technology Solutions