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What is Niche
Marketing |
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What is Niche Marketing?
The word ‘niche’ is defined as: “A special
area of demand for a product or service”. ‘Marketing’ is
defined as: “The opportunity to buy or sell”. If you put the
two works together, niche marketing means buying or selling a
product or service in a special area of demand. All that
really 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.
Oftentimes big businesses use niche
marketing. For example, a company that makes computers and
computer accessories might advertise all-in-one
copy/printer/scanners to the home computer user while at the
same time advertising single function machines to large
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
specialized 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. If, 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. Those who
own Blood Hounds or cats couldn’t care less. If you have
written an e-book that will explain how to start and succeed
at an online 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 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.
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