Finding Your Market

Interesting news regarding the Pebble smart watch comes to us today via Bloomberg Businessweek: the maker of the smart watch will be cutting their prices substantially in light of Apple’s announcement of their new smart watch, soon to hit the market.

One may interpret this as Pebble running in light of the tech giants entry into the watch arena, but this is anything but that. Eric Migicovsky, the founder of Pebble, states:

They’ve used gold, they’ve used luxury materials, they’ve stated to the world that this isn’t just about the technology. For people who are looking for a Rolex or a Tag and would rather get a smartwatch, that would be a great choice for them.

So where does Pebble’s price drop fit into all of this? Well, right in that niche market of people who know exactly what they want and need. Not a Rolex, not a TAG, but rather a watch that doesn’t necessarily come with all the bells and whistles, but which works simply and efficiently.

Pebble is hoping to fill that market need.

Do you know the market to which you are aiming your product? Have you hit that niche where you are serving your clientele? Remember, this is how business is driven…by supplying the demand. Even when that demand is not necessarily the top of the market, but rather a niche in it.

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