Advantages Of Niche Marketing

2889 Words12 Pages
An Article on

GROOVING BY NICHE MARKETING

Jaideep Singh
Assistant Professor
(P.I.M.T) P.M.N. College,
Rajpura.(Pb.)

Abstract:

Niche marketing refers to the submarket where specific products are marketed. More specifically niche marketing refers to narrow market segment where products with special offering survives. Niche marketing basically works with a concept of `Big fish in small pond. ` By targeting a niche market, the marketer can serve in more specialized manner and can create a situation of monopoly. The market notices the difference in the value of services provided by a niche marketer and generates loyalty. Now the companies are realizing the power of niche marketing and
…show more content…
Small or medium size businessman often functions as niche marketers focusing on specific customers. Niche marketers are generally small or medium sized firms due to their focus on narrow market segment. Larger firms due to lack of flexibility & scope are generally reluctant to enter niche marketing. However there are exceptions to this belief. For example Johnson & Johnson, Procter & Gamble, Rolex watches, Nike, Roll Royce are some of the renowned firms which opt niche marketing.

Limitations in Niche Marketing:
• One of the limitations of niche marketing is that this market strategy is not suitable for long term business because of the fact that niche does not offer sufficient business. In case if one`s business has to rely on selling large quantity or large number of products then niche marketing is not a place to business.
• If the niche market is invaded by large firms then it will be very difficult for small or medium sized firms to compete & question of survival may come.
• If any firm is solely dependent on niche marketing then its survival chances get reduced as the niche market is not that adequate & significant that one can totally rely on

More about Advantages Of Niche Marketing

Get Access