Niche Marketing

  • Niche marketing is defined as channeling all marketing efforts towards one well-defined segment of the population.
  • One important thing to understand that ‘niche’ does not exist, but is created by smart marketing techniques and identifying what the customer wants.
  • Niche marketing is a marketing tactic deployed to target a specific market segment which is unique.
  • A niche market does not mean a small market, but it involves specific target audience with a specialized offering.
  • One of the benefits of niche market is that there is no or little competition under that segment.
  • The company is virtually the market leader and enjoys price monopoly.
  • The relationship between the company and the brand becomes stronger which is also a key to customer loyalty.
  • Niche businesses are often high margin business.

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