Every successful printing business needs a niche market to help attract loyal customers, gain expertise, and get more business than ever before. How can you find the right niche market for your printing business?
Just like with anything else, the right strategy will help you get the job done. The blue and red ocean strategy can be helpful if you aren’t experienced in marketing. What does a blue ocean or red ocean mean?
A blue ocean market exists when there is no competition or when competition isn’t enough to satisfy the level of demand. This type of market can occur naturally or if you create one with a new product or special service. A blue ocean exists when there is a new demand for a new good. As you modify the product, you will need to constantly monitor consumer activity and see how they respond to the changes. Blue ocean markets require a high level of flexibility and rapid response.
A red ocean market occurs in markets that are already developed and thriving. This market involves constant competition over existing demand. Instead of focusing on innovation and needing to create new unique products, you can devote your energy to differentiating yourself from direct competitors.
Which Market is Better for You?
When it comes to the printing industry, the red ocean and blue ocean strategies can both be beneficial for finding niche markets. The red ocean side of the printing industry consists of already-there products like leaflets, flyers, and business cards. However, the high demand and high level of competition for customers means that prices are typically low and customers have high quality expectations.
Unfortunately, a blue market is not as easy to find, since it involves new trends and creating innovative products that haven’t been made before. One of the current expanding trends is custom packaging with custom graphics and designs on the outside. This market currently has a low amount of competition and those that search are willing to pay more for quality.
For All of Your Printing Industry Needs: Atlantic Graphic Systems
Whether you need bindery equipment repaired or need help relocating your plant, Atlantic Graphic Systems has almost 40 years of experience in the graphics field. We are proud of our reputation for excellent customer service and quality products. For more information on how we can help you and your business, contact us online or give us a call at (410) 290-8200. For more tips and tricks, follow us on Facebook, Twitter, Google+, LinkedIn, and Pinterest.