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Niche Marketing basically means someone (your or a business) is attempting to sell a product to a specific group of people. A niche can be thought of like a small section of a large wall, which is reserved for some specific item. In some buildings, that niche is occupied by small statues, busts, or even simple art displays. The entire wall could be used to hang various pictures, paintings, mirrors, or any assortment of articals, but this little niche place can only hold smaller, more particular items. In the same way, the 'market' can be thought of as the huge wall where many goods can be hung (sold) for display (sell). The items hanging there are intended for a broader audience and larger viewing potential (you can see them from farther away). But, any item in that little niche space is intended to focus your attention just on that one item and certainly a more specific audience (say, something for children). Marketing is done the same way in many cases. For example, advertising for a Microwave Oven would appeal to a much larger audience than advertising for a Special Harness for your Guide Dog (for the sight impaired). The number of people who could potentially need/want a new Microwave Oven is far greater than the number of people who could need/want a new harness for their Guide Dog. There 'is' a need for harnesses for Guide Dogs, but that market is a niche market and not nearly as expansive as the market for more common products. There are fewer people who even have a Guide Dog, let alone need a new harness for one, too. Niche Marketing, though, can be quite a bit easier, because your target audience is much smaller (less variety in their needs/desires), and you can concentrate your advertising funds more efficiently.

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Q: What does niche marketing mean?
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Related questions

Can you define the word niche?

In most uses, "niche" is a noun. Nouns refer to a person, place, or thing. A niche is a thing. However, there are occasions when "niche" gets used as an adjective. In the phrase "niche marketing," "niche" modifies :marketing," so it's an adjective in that usage.


What has the author Robert B Settle written?

Robert B. Settle has written: 'Niche Marketing, How to Pinpoint Target Markets' 'Niche Marketing'


What does the term niche marketing refer to?

Niche marketing means a specific term that matches that market your business is involved in. It is more of a direct marketing platform instead of using the shotgun method.


Explain types of marketing?

What defines the members of a niche market is not the market size, but some unique characteristic shared by all members of that niche market. Marketers then use that to inform decision-making about marketing strategy and develop tactics to understand the consumer needs of that group then create marketing plans to target that niche group. Niche marketing is the resulting tactic of implementing marketing strategies specifically for targeting a niche market segment, often by capitalizing on the presence of a unique characteristic of that market. For example, the market for people aged over 55 is one example of a 'niche market'. Similarly the African-American market is a 'niche' market, even though it is a large group of consumers. The gay market is another niche market group of millions of consumers around the world. So-called 'grey' marketing, African- American marketing and gay marketing are examples of the resulting marketing strategies that result from defining segments by way of niche market approaches. Niche marketing has been shown to be a very effective means for mass market brands to seek to better position their products and services to appeal to niche market consumers.


What is niche marketing?

a company with limited resources might decide to serve only one or a few special segment


Influencer Marketing?

Influencer marketing is a type of social media marketing that involves working with individuals who have a large following and reputation in a specific industry or niche.


Why does Niche Marketing Give You Best Chance at Succeeding Online?

Niche marketing allows you to focus more specifically to one particular demographic (group) so that marketing messages may appeal more directly to them. With such a vast space for marketing such as the Internet it makes sense to appeal to less to convert more.


A sentence using the word niche?

I tried marketing my goods to adults with no success and much later discovered my niche market was in fact teenagers.


What is concentration on a norrow range of goods and services?

This can be called specialization or "niche" marketing.


What does Niche mean?

Niche means a job or role of and organism.


What does ma niche mean?

ma niche means 'my doghouse' in French.


What has the author Charles W Gross written?

Charles W. Gross has written: 'Competitive strategies' -- subject(s): Management, Marketing 'Niche Marketing' 'Marketing' -- subject(s): Decision making, Decision-making, Management, Marketing