Research On The Application Of Niche Strategy In Small And Medium Sized Enterprises

In recent years driven by the market economy,a large number of small and mediumsized enterprises have reached a certain scale.These small and medium-sized enterprises which have grown up give great impetus to China's economic construction and market prosperity,and play an important role in the whole market economy as well.However,during the development process of small and medium-sized enterprises,some small and medium-sized enterprises are eliminated by the market due to poor capacity of individual productivity in their early days,and some may survive in the market competition but there have been many problems to be solved.Through in-depth analysis,we found that the main reason for that small and medium-sized enterprises cannot gain the development of space in the competitive market is no vision,especially the lack of professional market suitable for the long-term development of enterprises.Therefore,niche strategy was regarded as the most suitable development strategy for small and medium-sized enterprises in many research findings.Based on this,the paper takes LT Company,a small and medium-sized enterprise,as an example to explore in depth how to apply niche strategy to formulate their development strategies for small and medium-sized enterprises.The paper mainly includes four parts.The first part is research of theories,which introduces the basic concept and related theoretical foundation of niche strategy,and describes its implication,basic principles and essential factors of formation systematically,and analysis tools such as PEST analysis method,Porter's five-force competitive structure model,SWOT analysis method and so on..The second part is research on the current situation,which analyzes the current situation of application of niche strategy of small and medium-sized enterprises in China,and reviews on the status and characteristics of small and medium-sized enterprises in China,niche strategy choice and problems in niche strategy management.The third part is empirical research,which takes LT Company as an example to conduct in-depth analysis on macro environment,industry environment and micro environment where LT Company is situated based on analysis tools such as PEST analysis,Michael Porter's Five Forces Model,SWOT analysis,etc.,and finally determines niche strategy as the company's strategic choice.The fourth part is to determine the specific development strategies of LT Company based on niche strategy theory.First,the general idea,motivation and key elements established by niche strategy of LT Company are stated.Second,deployment strategies of niche strategy of LT Company are stated,including product strategy,research and development strategy,marketing strategy.Third,the design of implementation phase of niche strategy of LT Company is given,including the start-up phase,implementation phase,completion phase.Finally,suggestions of implementation security are provided from the aspects of organization,system,resources,etc.based on market orientation and strategy objectives of niche strategy of LT Company.The viewpoints of this research,which are fairly practical,are intended to provide a reference for the development strategy of LT company and other middle and small-sized enterprises of consumables for New non-metallic materials.And in this research,development characteristics of middle and small-sized enterprises were also fully considered.Therefore,conclusions and suggestions of this research are of positive significance for middle and small-sized enterprises to solve the problems in the process of implementing niche strategies.