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Market Niche

In: Business and Management

Submitted By FeliceaJS
Words 587
Pages 3
Liberman, an avid marathon runner and trainer decided to open his own business a one-stop shop selling running gears and equipments, after being retrenched from his office day job. He decided to venture into this business in particular because of his passion for running and being healthy and fit. There are no shops selling running gears and equipments in his town yet. Any avid or non avid runners who wishes to buy any running gears and equipments has to place their orders on online shops to pre-order their gears and it takes about 2 to 4 months tops for their order to arrive. They not only have to pay the price of the item they have just purchased but also the postage costs are borne by the customers. Being an avid runner himself, Liberman then opened up a shop selling running gears and equipments of various brands, known as Running-Man Shop. The selling prices of these running gears and equipments are set to be the same as the online shops which his customers usually visit. Liberman gloats that opening Running-Man Shop is better than having his customers making online purchases as they do not have to pay for postage costs and Running-Man Shop can cater to the market niche that has been ignored. His shop has become very popular among runners, and his one-stop shop selling running gears and equipments has been very busy since in first opens.
Running-Man Shop has become the first one-stop shop famous for its good quality and various branded running gears and equipments. Running-Man earned above average returns as it built up its competencies by being the first one-stop shop for running gears and equipments to open up in town. After being in business for 15 years, the business is not without problems. In recent years, Running-Man experienced a drop in sales due to entrance of a shop selling factory rejected brand new branded running gears and equipments in usable…...

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