NICHE MARKETING

•A Niche is a more narrowly defined group, typically a small market whose needs are not well served. Marketers usually identify Niches by dividing a segment into sub – segments or by defining a group seeking a distinctive mix of benefits.


For example:The segment of heavy smokers includes those who are trying to stop smoking & those who don’t care.

 Whereas segments are fairly large & normally attracts several competitors, Niches are fairly small & normally attract only one or two. Larger companies, such as IBM, lose pieces of their market to Niches: Dalgic labeled this confrontation “guerrillas against gorillas.” Some larger companies have therefore turned to Niche Marketing, which has required more decentralization & some changes in the way they do business. Johnson & Johnson, for example, consists of 170 affiliates many of which pursue Niche markets.

The prevalence of Niche - & even “microniche”-marketing can be seen in the media. Witness the proliferation of new magazines targeting specific niches divided and sub divided along lines of ethnicity, gender, or sexual orientation . Is a New York – based life style maxim for black gay men. There’s Aqua, a bi – monthly for divers & snorkelers & Miami based quince, a magazine just for Hispanic teenage girls. As the media’s gaze turns ever inward, there is Stephen Brills content a new consumer magazine about the media.

Niche marketers presumably understand their customers needs so well that the customers willingly pay a premium. Ferrari gets a high price for its cars because loyal buyer feel no other automobiles comes close to offering the product service membership benefit bundle that Ferrari does.

An attractive niche is characterized as follows:

The customers niche have a distinct set of needs, they will pay a premium to the firm that best satisfies their needs, the niche is not likely to attract other competitors, the nicher gains certain economies through specialisation, and niche has size profit and growth potential.


Both small and large company can practice niche marketing.

I hope this short blog gave you the idea about Niche Marketing. Thanks for Reading

Marketing Process

Marketing Process

—Marketing is an ongoing dynamic process involving a set of interacting activities dealing with a market offering by the producers to consumers.
—Marketing process involves the sales and demand forecasts methodology and application of marketing mix. The entire marketing process differs from company to company, product to product, but always it confined to the company’s corporate goals and corporate capabilities.
—The marketing process brings together producers and consumers – the two participants in exchange. The marketing process involves three major activities; the same is known as heart of marketing.

The marketing process involves three major activities; the same is known as heart of marketing.

1. —Concentration 
2. —Dispersion 
3. —Equalization 

Marketing research is the starting point in the marketing process to ascertain and identify consumer needs and desires through market analysis and investigation.
— —Marketing Process Model

The marketing process model can be used to help you to decide how to take a new offer to market. It can also be used to test your existing marketing strategy. Whether you are considering a new or existing offer, following steps will help,

1. Start by identifying the product or service that you want to analyze.

2. Try asking "why" and "what if" questions too, to challenge your offer e.g ask why your target audience needs a particular feature. What if you drop your price by 5%? What if you offer more colors? Why sell through wholesalers rather than direct channels? What if you improve PR rather than rely on TV advertising?

—3. Now go through and answers the 4 Ps questions.

4. Once you have a well-defined marketing mix, try "testing" the overall offer from the customer's perspective, by asking customer focused questions:
—Does it meet their needs? (product)
—Will they find it where they shop? (place)
—Will they consider it's priced favorably? (price)
—And will the marketing communications reach them? (promotion)
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 5. Keep on asking questions and making changes to your mix until you are satisfied that you have optimized your marketing mix, given the information and facts and figures you have available.

6. Review you marketing mix regularly, as some elements will need to change as the product or service, and its market, grow, mature and adapt in an ever-changing competitive environment.
—Thus marketing process is nothing but Concentration, Dispersion and Equalization to meet the customers demand and have better share of the market.

—*** Marketing Process ***

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