Managing and Marketing a New Stable in the Equine Niche
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For my senior individualized project, I constructed a five-part marketing strategy for a niche business. I drew upon my experience shadowing a stable manager, and described a plan that a new stable owner would follow in order to establish their business in the equine niche. The five-part plan consisted of a list of personal or business goals that a stable owner should set forth to accomplish, a SWOT (strengths, weaknesses, opportunities, threats) analysis that would help the entrepreneur identify resources to take advantage of. Also included are potential marketing strategies that would help establish positive relationships with clients, and research discussing the equine market. "Knowing and understanding customer's needs" is most important rule of marketing, according to Business Link, the United Kingdom's governmental source for businesses (The Chartered Institute of Marketing, 2011 ). These different areas help create a formulaic plan that a new stable owner should consider in order to make a name for themselves in a critical, niche industry.