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Business English Exercises
 

Niche Marketing

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Home > Teaching Business English > Business English Lessons, Advanced Level # 448
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Some entrepreneurs think that selling to the widest market is the surest path to success; they are hesitant to go after a market niche because they're afraid that they will lose business by turning away customers.

Correct answer: (d) turning

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But this 'take all comers' approach is not very effective.

Correct answer: (b) comers

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501 Business English Exercises — Printable, photocopiable.
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It is difficult to stand out if you market your business lacking a set of distinctive prospects in mind.

Correct answer: (a) stand

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Entering a niche means that you will not be competing with many similar companies on price alone, and if you are selling products or services customized to the needs or predispositions of a specific group of customers, you can frequently charge more.

Correct answer: (d) predispositions

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The procedure begins with your market research: you should analyze your competitors, your best potential customers, and your ability to serve these customers so well that they will make you their vendor of choice.

Correct answer: (a) choice

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Market research can be compared to sticking your toe into the swimming pool before you plunge in.

Correct answer: (d) toe

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After you have learned which customers you want to reach and what their needs are, you can adapt your service or product to match their needs more nearly and craft a message that reflects your customer as well as your business.

Correct answer: (b) craft

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To decide whether a particular niche is right for your business, ask yourself if you can tailor its identity, services and products to address that market's particular needs.

Correct answer: (b) tailor

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You should also determine whether your target market is currently underserved.

Correct answer: (a) underserved

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The more that your business specializes, the more its market will see the value of your products or services because you are speaking directly to their unique situation.

Correct answer: (d) speaking

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Business English Practice Exercises Business English Tests — several topics are covered: office matters, job applications, computer English, money expressions, business law, operations management, retail marketing, e-commerce, accounting terms, contracts and agreements, commercial correspondence, etc.
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