Revision as of 23:00, 22 December 2006 editWise2007 (talk | contribs)2 edits →Marketing in and for niche markets← Previous edit | Revision as of 23:01, 22 December 2006 edit undoWise2007 (talk | contribs)2 edits →Marketing in and for niche marketsNext edit → | ||
Line 12: | Line 12: | ||
==Marketing in and for niche markets== | ==Marketing in and for niche markets== | ||
'''Niche marketing''' is the process of finding and serving small but potentially ]able ] segments and designing custom-made ] or ] for them. For big companies those market segments are often too small in order to serve them profitably as they often lack ]. Niche marketers are often reliant on the ] to maintain a profitable volume of sales. | '''Niche marketing''' is the process of finding and serving small but potentially ]able ] segments and designing custom-made ] or ] for them. For big companies those market segments are often too small in order to serve them profitably as they often lack ]. Niche marketers are often reliant on the ] to maintain a profitable volume of sales. | ||
On the Internet, niche marketig becomes interesting because the playing field is leveled for all online businesses. Niche marketing on the Internet means that you need to extensive keyword research and KOI analysis. Dr. Wilson wrote an excellent book on this topic at Wilsonweb. Thomas Wong at Intesync recommends that all marketing channels should be explored and that niche marketing is not just about finding small segments |
On the Internet, niche marketig becomes interesting because the playing field is leveled for all online businesses. Niche marketing on the Internet means that you need to extensive keyword research and KOI analysis. Dr. Wilson wrote an excellent book on this topic at Wilsonweb. Thomas Wong at Intesync recommends that all marketing channels should be explored and that niche marketing is not just about finding small segments-- it's about expanding the overall market shares. | ||
{{Econ-stub}} | {{Econ-stub}} |
Revision as of 23:01, 22 December 2006
A niche market is a focused, targetable portion of a market sector.
By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. A niche market may be thought of as a narrowly defined group of potential customers.
A distinct niche market usually evolves out of a market niche, where potential demand is not met by any supply.
Such ventures are profitable because of disinterest on the part of large businesses and/or lack of awareness on the part of other small companies. The key to capitalizing on a niche market is to find or develop a market niche that has customers who are accessible, that is growing fast enough, and that is not owned by one established vendor already.
Etymology
The term niche is borrowed from ecology and implies a situation or an activity perfectly suited to a person or a given type of personality. This concept has been extended from persons to products on the market. Whereas a niche in the strict sense can be a working position or an area suited to a person who occupies it, the market niche is perfectly suited for a product of human labour...
Marketing in and for niche markets
Niche marketing is the process of finding and serving small but potentially profitable market segments and designing custom-made products or services for them. For big companies those market segments are often too small in order to serve them profitably as they often lack economies of scale. Niche marketers are often reliant on the loyalty business model to maintain a profitable volume of sales. On the Internet, niche marketig becomes interesting because the playing field is leveled for all online businesses. Niche marketing on the Internet means that you need to extensive keyword research and KOI analysis. Dr. Wilson wrote an excellent book on this topic at Wilsonweb. Thomas Wong at Intesync recommends that all marketing channels should be explored and that niche marketing is not just about finding small segments-- it's about expanding the overall market shares.
This economics-related article is a stub. You can help Misplaced Pages by expanding it. |