In-N-Out Burger: A New Segment in An Existing Market (ENT 670-Blog 5)
A New Segment in An Existing Market
So, there are 3 types of markets:
1. Existing markets
2. A new segment in an existing market
3. Entering as a new market
For those who do not know about my venture yet, I am opening a fitness center, but with my own niche. This is because it will include pole dance classes, aerial silks classes, and lyra classes (the hoop). People are still learning that these are actually forms of the most intense exercise. To me, this would be considered a new segment in an existing market, which is the fitness market. At the same time, I think it could be considered a new market completely, because no one in Western North Carolina has pole fitness.
I kind of went off subject. I would like to reflect on our reading in the Four Steps to the Epiphany by Steve Blank. I want to really talk about In-N-Out Burger that is mentioned in our readings. It is one of my favorite fast-food places, and it is considered a new segment within an existing market. I love the food from In-N-Out burger. In-N-Out Burger had to have a niche in order to compete with McDonalds and Burger King.
What In-N-Out Burger focused on was producing fresh burgers and fresh cut fries, made fresh-cut, each order! They saw that McDonalds had a full menu with lots of options, but decided to focus on a simple, basic menu and stick to fresh (never frozen) burgers, and fresh-cut fries. This is because some of McDonalds food seemed mediocre, and In-N-Out would rather have a small menu with great taste every time. Not to mention, the service is quick, hence the name!!!
Great job In-N-Out Burger! I wish you would expand your business and open some locations in the South region of the U.S! I love you!