How to Develop Products for Niche Markets By Steve Owens

Small companies have very long development cycles. They are not in a hyper competitive world – they are in a niche market. In these types of companies, a product is developed and then many years are focused on manufacturing, marketing and servicing the product. During this time, product development is not important. No one is going to spend capital to compete with a niche product that just came on the market as that would only erode margin.