Identifying and Exploiting Markets for the Service Industry

If you are in the service industry then you realize that you must give the customer what they want and compete in the marketplace with other companies that also offer services. One thing that service industry executives need to consider is that once you get into the marketplace you will find customers who will tell you they wish you to modify your services and they are willing to pay you more if you can do this for them.

As more and more customers demand different kinds of variations of the services that you already provide it makes sense for your service company to also offer those lines of services. In fact quite often you will find that many of the additional services that are asked for in various markets by your customers will be more profitable than the current services you provided when he started.

This is because most likely you picked a series of types of services that were very common in the marketplace and as you got more and more into the industry and all the sub-sector industry niches that you serve, you found other services that people wanted you to do and were willing to pay you a lot more to do them.

Indeed, such new services may have little if any competition and it makes sense to exploit these niches and identify them as early as possible so you can make more money in the marketplace in your service business. Perhaps you might consider all this in 2006.

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