Niche Marketing

 

Have heard of “Jack of all trades and master of none”? It rightly emphasizes the significance of specializing in a particular product, service, or market rather than being a generalist. It is true while talking about the concept of Niche Marketing.

Niche marketing is targeting a defined segment of the population with a specific product. Niche marketers focus only on one product or one target market instead of focusing on general products.

Every business has a target audience, but within that target audience are smaller subgroups of people that are defined by its own unique needs, preferences, or identity that makes it different from the market at large. These smaller subgroups are called niche markets and are a rich source of marketing opportunities. 

For instance, Coca-Cola markets Diet Coke as a niche product for a segmented audience since it targets a specific group i.e. Health freaks.

Coca-Cola Diet Coke contributes more net profit than the classic coke. It is one of the reasons why companies like IBM and Coca-Cola have changed their marketing outlook from a single market to multitudes of smaller markets to realize more profits. 

Nearly every market can be refined and a niche can be defined based on price, demographics, geographics, and psychographics.

 

The niche marketing strategy can prove profitable to businesses as it:

  • Enhances customer relationships
  • Reduces competition as the product and services offered are quite specific
  • Increases visibility with unique product or service which stand out in the market
  • Word of mouth growth as the credibility and trust of the customers remains with the product.

While on one hand niche marketing helps to stand out from the competition, it can also sometimes results in increased competition in an already established profitable niche.

Launching products for millions of odd-great Indian middle-class was once the dream of every marketer. But that class has now fragmented into individualistic consumers who flaunt their respective differences.

The products like Calcium Sandoz Woman, Amul Calci+ milk, and Horlicks for women are prime examples of marketers finding niches, positioning these to educate specifically women about the importance of them remaining fit for their families.

The consumers get hooked to these niche products that offer certain specific attributes that are perceived to remain with them. It results in market expansion along with an intact loyal customer base for that product.

For example, Raymond suiting, which is perceived to be a high-end, premium product is for the upper-middle classes and the rich. 

Niche products will always make customers happy as it serves them with what they want. More and more niche products and services will occupy shelves in the years to come. Although technology and social media are bringing us closer together, it also means that the competition is growing stiff.

It is a worldwide market today, which is why if brands want to stand out among the competitors, they need to find a niche.

Bitly: https://bit.ly/3aSImIy

https://bit.ly/3ldLGTn

159 thoughts on “Niche Marketing”

  1. Just looking at your article on my new Garmin Phone , and I wanted to check if it would let me comment or if it was going to me go to a pc to do that. Ill check back later to see if it worked.

  2. I am impressed, I must say. Really rarely do I discovered a blog thats both educational and entertaining, and let me tell you, you have hit the nail on the head. Your blog is important; the issue is something that not enough people are speaking intelligently about. Im really happy that I stumbled across this in my search for something relating to this.

  3. Dude, please tell me that youre heading to publish extra. I notice you havent written an additional blog for a while (Im just catching up myself). Your blog is just too important to be missed. Youve obtained so significantly to say, this kind of knowledge about this topic it would be a shame to see this weblog disappear. The internet needs you, man!

  4. Thanks for another essential posting. Where else could everyone get that kind of information in their normal complete way of crafting? I have a demonstration incoming week, and I am searching for such information.

  5. Boa noite pessoal, com certeza enviar um torpedo gratuito está cada vez mais oneroso devido a restrição das operadoras móveis. Há ainda os websites que prometem entregar minha menssagem mas quase nunca chegam destinatário final. Alguns como o Mundo oi e o Oi Torpedo funcionam mas e para as outras operadoras? E os que prometem que enviam e nada chega. Para onde está indo as meus torpedos? E para a Tim, Vivo? Alguma Idéia? Ou significa ter de desembolsar?. Foi mal, realmente está difícil achar serviços para mandar SMS de graça.

  6. I blog often and I really appreciate your content. The article has really peaked my interest.
    I will book mark your site and keep checking for new information about once a week.
    I opted in for your RSS feed too.

  7. This is some reliable stuff. It took me some time to find this internet site but it was worth the time. I noticed this content was buried in google and not the number one spot. This site has a lot of nice stuff and it doesnt deserve to be burried in the searches like that. By the way I am going to save this web site to my favorites.

  8. Excellent post. I was checking constantly this weblog and I’m
    inspired! Very helpful info particularly the final phase :
    ) I care for such information much. I used to be looking for this certain info for a very lengthy
    time. Thanks and good luck.

  9. Wow that was odd. I just wrote an incredibly long comment but after I clicked submit my comment didn’t appear.
    Grrrr… well I’m not writing all that over again. Anyhow, just wanted to say great
    blog!

  10. Thank you for the good writeup. It in reality was once a amusement account it.
    Glance complicated to more added agreeable from you!
    However, how can we keep up a correspondence?

  11. Incredible! This blog looks exactly like my old one!

    It’s on a completely different subject but it has pretty
    much the same page layout and design. Wonderful choice of colors!

  12. I know this if off topic but I’m looking into starting my own weblog and was wondering what all is required to
    get setup? I’m assuming having a blog like yours would cost a pretty
    penny? I’m not very internet savvy so I’m not 100% positive.
    Any suggestions or advice would be greatly appreciated.

    Thank you

  13. This design is steller! You certainly know how to keep a reader amused.

    Between your wit and your videos, I was almost moved to start my own blog (well, almost…HaHa!) Excellent job.
    I really enjoyed what you had to say, and more than that, how you
    presented it. Too cool!

  14. Hello, There’s no doubt that your site may be having web browser compatibility problems. When I look at your web site in Safari, it looks fine but when opening in IE, it has some overlapping issues. I simply wanted to give you a quick heads up! Other than that, excellent website!

  15. I have been surfing on-line greater than three hours as of late, yet I by no means found any interesting
    article like yours. It is beautiful price sufficient for me.
    In my opinion, if all site owners and bloggers
    made just right content as you probably
    did, the web will probably be much more helpful than ever before.

  16. Hey! Do you know if they make any plugins to help with Search Engine Optimization?
    I’m trying to get my blog to rank for some targeted keywords but I’m not seeing very good results.
    If you know of any please share. Appreciate it!

  17. Hi there just wanted to give you a quick heads up. The words in your article seem to be running off the screen in Chrome.

    I’m not sure if this is a format issue or something to do
    with internet browser compatibility but I thought I’d post to let you know.
    The style and design look great though! Hope you get the issue solved soon. Cheers

  18. It’s in point of fact a great and helpful piece of information. I am happy that you simply shared this useful info with us. Please stay us up to date like this. Thanks for sharing.

  19. Hello There. I found your blog using msn. This is
    a very well written article. I’ll be sure to bookmark it and come back to read more of your useful
    information. Thanks for the post. I’ll certainly comeback.

  20. I’m impressed, I must say. Seldom do I encounter a blog that’s both
    equally educative and interesting, and without a doubt,
    you’ve hit the nail on the head. The issue is something which too few people are speaking intelligently about.

    I am very happy I found this in my search for something relating to this.

  21. Hmm it seems like your website ate my first comment (it was
    extremely long) so I guess I’ll just sum it up what I submitted and say, I’m thoroughly enjoying your blog.
    I too am an aspiring blog writer but I’m still new to everything.

    Do you have any tips for first-time blog writers? I’d genuinely
    appreciate it.

  22. That is a very good tip particularly to those new to
    the blogosphere. Short but very accurate information… Thank
    you for sharing this one. A must read article!

  23. This is very interesting, You’re a very skilled blogger.
    I have joined your rss feed and look forward to seeking more of your wonderful post.
    Also, I’ve shared your site in my social networks!

  24. Awesome blog! Is your theme custom made or did you download it from somewhere?
    A theme like yours with a few simple tweeks would really make my blog shine.
    Please let me know where you got your theme. Bless you

  25. Magnificent goods from you, man. I have understand
    your stuff previous to and you’re just too magnificent. I actually
    like what you’ve acquired here, really like what you are stating and the way in which you say it.
    You make it enjoyable and you still care for to keep it wise.

    I can not wait to read much more from you. This is actually a tremendous site.

  26. Good day! I could have sworn I’ve been to this site before but after reading through some of the post I realized it’s new to
    me. Nonetheless, I’m definitely delighted I found it and I’ll be book-marking
    and checking back frequently!

  27. Hello! I know this is somewhat off topic but I was wondering
    if you knew where I could find a captcha plugin for my
    comment form? I’m using the same blog platform as yours and I’m having trouble finding one?

    Thanks a lot!

  28. Excellent post. I was checking constantly this blog and I am impressed!
    Very useful info specially the last part 🙂 I care for such information much.
    I was seeking this particular information for a very
    long time. Thank you and best of luck.

  29. Excellent post. I was checking constantly this blog and I’m inspired!
    Extremely useful info particularly the last part 🙂 I take care of such information a lot.
    I was looking for this certain information for a
    very long time. Thank you and good luck.

  30. Everything is very open with a clear clarification of the challenges.
    It was really informative. Your website is extremely
    helpful. Many thanks for sharing!

  31. I’m no longer positive where you are getting your information, but good topic. I needs to spend a while studying much more or figuring out more. Thank you for great information I was looking for this information for my mission.

  32. Excellent goods from you, man. I’ve understand your stuff
    previous to and you’re just too great. I really like what
    youu have acquired here, really like what you aare saying and the
    way in which you say it. You make it entertaining and
    you still care for to kewep it wise. I can not
    wait to read much more from you. This is actually a great web site.

  33. Thank you for any other excellent article. Where else may anybody get that type of information in such an ideal means of writing?
    I’ve a presentation next week, and I’m on the search for such information.

  34. Thanks for some other magnificent article.The place else may anybody get that type of information in such a perfectway of writing? I’ve a presentation subsequent week, and I’m on the look for such info.

  35. I’m not sure where you’re getting your information, but good topic.
    I needs to spend some time learning more or understanding more.
    Thanks for wonderful information I was searching for this information for my mission.

  36. This is very interesting, You are a very skilled blogger.
    I have joined your rss feed and look forward to seeking more of your excellent post.
    Also, I have shared your site in my social networks!

  37. I was recommended this web site by my cousin. I am not sure whether this post is written by him as nobody
    else know such detailed about my problem. You
    are incredible! Thanks!

  38. It is really a nice and helpful piece of information. I’m satisfied that you simply shared this useful information with us.

    Please keep us up to date like this. Thank you for sharing.

  39. You are so interesting! I do not think I’ve truly read through something like this before.

    So wonderful to find somebody with some unique thoughts on this issue.

    Seriously.. many thanks for starting this up. This website is something that’s needed on the web,
    someone with some originality!

  40. Hello there, simply was aware of your blog via Google, and found that it’s really informative. I am gonna watch out for brussels. I will be grateful in the event you continue this in future. A lot of folks might be benefited from your writing. Cheers!

  41. Hey very nice site!! Man .. Excellent .. Amazing .. I’ll bookmark your site and take the feeds also?I am happy to find numerous useful information here in the post, we need work out more strategies in this regard, thanks for sharing. . . . . .

  42. Wow Thanks for this content i find it hard to track down excellent ideas out there when it comes to this subject matter thank for the write-up website

  43. I have noticed that intelligent real estate agents everywhere are Advertising and marketing. They are recognizing that it’s more than simply placing a poster in the front property. It’s really regarding building connections with these sellers who later will become buyers. So, after you give your time and energy to assisting these dealers go it alone – the “Law regarding Reciprocity” kicks in. Thanks for your blog post.

  44. I believe this is among the most vital information for me.
    And i am glad reading your article. However want to statement on some normal
    things, The web site taste is great, the articles is in reality great : D.

    Good process, cheers

  45. Its like you learn my mind! You seem to grasp so much approximately this, such as you wrote the guide in it or something. I feel that you simply could do with a few percent to power the message home a little bit, however instead of that, that is wonderful blog. A great read. I will definitely be back.

Leave a Comment

Your email address will not be published. Required fields are marked *