Unique Names for the Children - Article Example

Unique Names for the Children 1. Maryanna Korwitts noticed that an increasing number of parents feel the need to come up with interesting and rather unique names for their children; a trend which started among celebrities. She found a business opportunity in this area and focused her idea on helping parents pick the best name for their children. She identified with parents who wanted to assure the best for their children in a world where competition among peers is high. One could say that her business idea was customer driven since there is an increased demand for lifestyle related business ventures these days and she successfully identified this niche market in its early stage.2. Korwitts’ target market would be expectant parents of the present society.

Parents today are intent on giving the best possible to their children in terms of lifestyle, healthcare, education and social standing thereby paving the way for their successful future. Parents strongly agree with Korwitts’ view that names do indeed have a significant influence on the personality of the person. Therefore they feel the need to choose the most appropriate name for their children. This is where Korwitts finds her target market. 3. Korwitts identified a market and entered it at a time when it was largely unexplored.

But very soon with an increase in demand more and more people will relate to her idea and plan businesses in the same area. Competition from rivals is thus inevitable. Besides this there are religious, regionalist, spiritual and minority groups who have already established a loyal following. Some such groups aiming at financial gains have ventured into areas like naming posing a threat to businesses like Korwitts’. Similarly, lifestyle advocates, numerologists, astrologists etc. have analyzed the mind set of present day society when it comes to matters such as naming and tapped this as a business opportunity.

Last but not least, good old catalogues, publications and websites with different names for children are still an easy and reliable source for many expectant parents. And so they still are and will continue to be a threat for Korwitts’ business.