what is niche marketing?

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1. Marketing to small, select group of people.

2. Niche marketing is uncovering a targeted, well-defined segment of the marketplace that is currently underserved. Usually, they are areas where there is little or no direct competition.

For example, a friend of mine in the insurance industry noticed a lack of focus in his area on car dealership lots. So he began offering specialized policies for car dealers. This became his niche - his specialized focus.

3. Niche marketing is defining a target market by some unique characteristic of that market. For example, the market for people aged over 55 is one example of a 'niche market' (see http://www.20plus30.com/ ). Similarly the African-American market is a 'niche' market, even though it is a large group of consumers. The gay market (see http://www.outnowconsulting.com ) is another niche market group of millions of consumers around the world. 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 tactics to understand the consumer needs of that group and create marketing plans to target that niche group.

4. In a nutshell, Niche marketing enables a marketer to provide goods or services targeted at a very specific need within an audience that has been largely unmet or overlooked.

AdeL
http://www.onlinegist.com

5. Having a Niche is having something that gives you an edge. It could be a jingle, it could be a branding, it could be anything that makes you easy to remember by your new clients and even easier to compete with your competition.