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Abstract:
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The United States textile and apparel industry is currently facing considerable challenges
due to increasing trade liberalization, which has led to a dramatic increase in lower priced
imports. For firms in this sector to remain competitive, they need to find ways to differentiate
themselves. One way of doing this is through niche marketing. However, many companies do
not know where or how to start identifying potential markets that would match their core
competencies. This becomes even more complicated when the potential market is based on
latent demand, meaning the consumers have not voiced a need for a particular product.
The purpose of this research is to examine the research methodologies successful niche
marketing companies use to identify potential niche markets and latent demand. This was
completed through both quantitative surveys and interviews with firms that have a successful
niche marketing strategy. The results of this research were used to develop a procedural model
that the US textile and apparel firms can incorporate into their overall research and development
process in order to identify niche markets and/or products directly related to their core
competencies. The results provided ITT member companies with a framework that they can use
to identify and evaluate new market opportunities, and therefore, be better positioned to compete
in the increasingly competitive global marketplace.
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