What to Do: . Imagine you own a small supermarket. For a long time, you survived just by being the convenient choice for nearby residents. But now, you face lots of new competition: big box stores like Walmart, Target, and Costco; delivery services like Amazon and Instacart; as well as large grocers such as Safeway, Kroger, and Publix. You know that you have to do something to differentiate yourself from these better-funded competitors. You realize you have to focus on a specific niche or market segment. 1. Choose a specific niche that you think is under-served or that could be well-served by a specialty food store, such as an ethnic group, single professionals, or two-working-parent families with young children. 2. Make a list of some food-related needs and preferences of your chosen demographic group. For example, two-income families are typically rushed for time and often must shop during evenings or weekends; professional singles want smaller portions of high-quality food; both may want more ready-to-eat food. 3. Brainstorm the ways you can transform your small supermarket to better serve the market niche you've chosen. Some questions to answer: a. What are some characteristics of the products that will most appeal to your market niche? (For example: gourmet, organic, spicy, ready- to-eat meals, upscale, inexpensive, healthy, child-friendly, specific ethnic, and so on) . b. Will you offer anything but food and beverages? (For example: household products, baby clothes, gifts, and the like) . c. Could you offer any unique services or features? (Cooking classes? Tastings? Singles mixers ? Child care? Other?) . d. What will significantly distinguish you from the competition? Be specific, Expert Answer