Would you try to beat Amazon at their own game? If you were insane you might. The bookseller giant has pretty much cornered the worldwide market for shifting reading matter online.
If you did, by chance, choose to sell books as a business, and your focus is selling online, there is only one way to make a crust nowadays. That is to not just sell books like any old bookshop. What you need to do now, when the online marketplace has a zillion stores all trying to compete for a piece of the pie, is to go back to business basics, and try to find a niche.
Now, this doesn't mean trying to be the Big Idea people. If you don't have a big idea you aren't going to find one anytime soon. What it does mean is looking at the online marketplace for your particular product or service and seeing what gaps are not being filled too well.
For an example of how the niche market theory still holds true today, and is perhaps even more important than it ever was, we could take a look at Toyota. Not the most obvious example, I know. They aren't exactly a tiny concern. A huge company that has a definite place in the market. You're probably thinking, what has Toyota got to do with niche marketing?
Well, what Toyota has to do with niche marketing is the Prius. They wanted to grab a huge slice of the green market when it came to cars. They realized that there was a group of motorists out there who wanted to drive green, and decided that they would take the plunge, and produce the first mass-market green car.
This was a risk, but Toyota knew that they had a good car on their hands, and wanted to get their brand into this particular market.
They created word of mouth buzz in trade magazines that served the green market. They focused on environmental groups and their members. They bought time on topical documentaries and shows about the environment. All smart moves.
By doing this they didn't just get a foot in the door as regards the niche, they became the niche. So much so that there is now a twelve month waiting list in some countries for the new Prius.
So there you go, proof that finding a niche is still a powerful factor in marketing.
No, you wouldn't try to take on Amazon. But if you want to sell books, go ahead and do it. Just be careful to get your niche right, though. Whether it is books about history, or trade periodicals about home improvement, find your niche and stick to it. Then market it to the interest groups, and watch your company carve a section of a market share.