Corporate Challenge:Is it worth creating products for niche markets?
Ironbound Strategy: Successful products and services in niche markets have something in common, they are usually designed tocreate a lot of valuefor their customers,employees, andsociety.
Ironbound Action: New York based Verizon helped launch a mobile digital video channel called Rated Red that creates content formillennialsin the heartland of America. The platform focused on creating value for a niche society in order to gain customers. Rated Red has become so successful, that it developed its ownapp, and has its own channel onSnapchat.Brandsthat enter niche markets have the potential to own theirmarketwhen they create extraordinary value for theircustomers,employees, andsociety.