What is Niche Marketing?
Posted by Oliver on Jun 11, 2008
The word niche is defined as: A particular area of demand for a product or service. Marketing is defined as: The chance to buy or sell. If you put the two forms together, niche marketing means buying or selling a product or service in a special area of demand. All that means is that a product or service is being sold to the people who are most interested in that particular product or service and not to the world in general.
Frequently big businesses use niche marketing. For instance, a company that makes computers and computer accessories could advertise all-in-one copy/printer/scanners to the home computer user while simultaneously advertising single function machines to big businesses.
One of the things that make niche marketing so attractive to sellers is that their advertising budgets go further. It costs less to advertise to a specialised market than it does to advertise to a broader market.
Niche marketing must be designed to meet the unique needs of the targeted audience. Niche marketers must tailor their product to meet those unique needs. Whenever, for example, you have designed a product to make poodle grooming easy enough for the untrained professional to do it, those who own poodles will be most interested in your product or service. Those who own Blood Hounds or cats could not care less. Whenever you have written an ebook that will explain how to start and succeed at an internet business, those who are looking for that information are your niche market. Those who are happy doing what they are doing are not interested at all.
Niche marketing is really a very effective and cost efficient way to advertise and sell specific products or services to a specific audience or, hopefully, buyers of that product or service.
