Chapter: 12th Commerce : Chapter 15 : Elements of Marketing : Recent Trends in Marketing
Niche Marketing
Niche Marketing
Niche marketing denotes a strategy of directing all
marketing efforts towards one well defined segment of the population. Actually
there is no market in niche market. It is found by company, by identifying the
need of customers which are not served or under served by the competitors. The
company which identified niche market develops solution to satisfy the needs of
niche market. A niche market does not mean a small market, but it involves
specific target audience with a specialized offering. It aimed at being a big
fish in a small pond instead of being a small fish in a big pond. For example,
there are various cinema halls across India, but there are few which have
recliner seats to offer. Not everybody wants to watch a movie by paying 5x-6x
times the cost of a normal ticket. The sports channels like STAR Sports, ESPN,
STAR Cricket and Fox Sports target the niche market of sports enthusiasts.
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