How to survive the competition through differentiation
A small online electronics startup cannot serve the entire electronics market. You will end up stretching yourself too thin and looking like a marketplace with no depth. Instead, you need to differentiate your business. You achieve this by pursuing a niche market. This begins with an honest assessment of your core competencies. Match your core competencies to opportunities in the marketplace.
Next, implement a robust marketing strategy to communicate your niche strengths to your target consumers. Combine both traditional and online marketing tactics to get your customer base to associate your startup with your niche gradually. In doing this, you will be working towards transforming your niche strategy into a vivacious brand identity.
Below are the steps to launching a successful online electronics shop: