Let's Honor our Past by Creating the Largest Online Black Niche Market Together
As we reflect on our past during Black History Month, there are among our memories many examples of Black economic empowerment -- such as Black Wall Street in Tulsa, Oklahoma; the Harlem Renaissance in New York; and Auburn Avenue in Atlanta. In our 21st Century virtual Black community, the entrepreneurial spirit still lives, but the historical landmarks no longer represent centers of Black commerce. So, there is a need to create a new channel of growth for Black small business owners. Many new business owners are turning to the Internet as a low cost of entry into the world of commerce.
Why should we create a Black Niche Market? A niche market is a place where the tastes and desires of a specific interest group are satisfied in ways that they cannot be satisfied in the mainstream marketplace. There is a growing interest in Black economic empowerment that is expressed by supporting Black-owned businesses. There are many benefits associated with this initiative -- employment, wealth creation, and community development. There is also a need for a one-stop place for online buyers and sellers to realize the goal of Black economic empowerment.
Is a Black Niche Market necessary? Yes. When a niche market is established, cost savings are realized because the merchants can target the niche at a lower cost than marketing to the entire mainstream market in search of their target customers. Consumers who are interested in supporting Black-owned businesses also benefit from a streamlined source of information that saves them time and money.
How can a Black Niche Market be effective?
A Black niche market is a showcase for goods and services that in many cases are unique to the culture and tastes of the target audience. These items may fall into categories like art, literature, health and beauty, culinary tastes, music, and entertainment that speaks to the unique experiences of the target audience. The market is effective when it attracts the best offerings for consumers, and attracts a large audience for merchants.
Does a Black Niche Market exclude goods and services found in the mainstream marketplace? No. In fact, the interests and values of the Black target audience are very similar to those of the mainstream market. Likewise, Black entrepreneurs aspire to increase their market penetration to include the mainstream population.
Does a Black Niche Market exclude goods and services found in the mainstream marketplace? No. In fact, the interests and values of the Black target audience are very similar to those of the mainstream market. Likewise, Black entrepreneurs aspire to increase their market penetration to include the mainstream population.
Is there an economic imperative to creating a Black Niche market? Yes. It is self-evident that markets are developed based on local needs. A Black Niche Market can serve the specific local needs of the Black economic community for employment, investment, and wealth creation. More importantly, a Black Niche Market can be a springboard into the mainstream. There are many examples, such as the music industry where Black popular music became the music of the popular culture of the mainstream. Similarly, breakthroughs in Black clothing styles have influenced popular culture in the mainstream. The Sean Jean clothing line is notable for its impact on the mainstream popular culture. The ultimate success of the Black Niche Market is the economic success of its participants on a national scale.
How do we go about creating a market?
Let's start with creating a place for merchants and consumers to come together to exchange goods and services for a financial consideration. Then we need to go about inviting buyers and sellers to participate. One approach to creating a Black Niche Market is the creation of iZania Market Deals.
The iZania Online Community is approaching our 10th Anniversary as an online center for Black entrepreneurs, consumers and professionals. We have developed one of the largest online directories of Black-owned businesses, and now were are inviting all Black-owned small business owners to participate in the first online Black Niche Market.
Join us in honoring our past and creating a better future by supporting Black economic empowerment at iZania Market Deals.
Thank you for your your support. I wish you all the very best of success in Black History Month and throughout the remainder of the year.
Roger Madison, CEO
iZania LLC
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