Determine the key challenges that each company must face

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Select two well-known companies from the same industry. Evaluate each company's target market characteristics in terms of purchasing patterns, demographics, psychographics, and buying sensitivities. Determine the key challenges that each company must face as it attempts to differentiate when competition is stiff, profits are small, and funding is scarce.

Identify two different niche markets: one of a product-based niche, and the other of a service-based niche. Evaluate and compare how each niche distinguishes itself from its competitors in terms of market size, opportunity for advertisement, market need, and ability to sustain the business long term.

Reference no: EM13733852

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