What is Niche Marketing?

Niche Marketing Definitions

Niche: a comfortable or suitable position in life or employment.

Marketing: the action or business of promoting and selling products or services.

Niche Marketing: is the concentration of marketing effort on a small, specific, well defined market segment. Also know as micromarketing.

Niche Market strategy: aim at being a big fish in a small pond instead of a small fish in a big pond.

Niche Market Creation

Before getting excited about niche marketing, consider this, niche markets do not really exist! It’s just a business concept.

Niche marketing is about defining a small, specific, market segment, based on sex, age, demographic and subject. This niche market segment is created by statistical analysis. Change the analysis and you change the niche market segment.

• Niche Marketing is the act of segmenting the market, and marketing intently to a small subset of the market.

So if niche markets do not really exist how do you create one? You create niche markets by identifying needs, wants and requirements in your chosen demographic that are being addressed poorly or (preferably) not at all by your competition. You then develop and deliver goods or services to satisfy that niche market segment.

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