The Concept Of Niche Marketing

Targeting is a method of examining the market segments and follow all or any of the following 3 types: undifferentiated, multisegment (differentiated) and concentration (niche) (Palmer, 2009). Selfridges’ products diversity means its target include both men and women aged >25 years belonging to the high-income group whose interest is fashion and luxury. Thus, Selfridges’ targeting can be said to be concentration (niche); however, due to its prime locations, Selfridges also attracts general public including families, singles and tourist. Therefore, in that aspect, its targeting strategy is differentiated.

Coaching can take many forms, life coaching, business coaching, performance coaching etc. As with mentoring and counselling it is about helping the individual to gain self awareness, but it is goal focused and action is required so that the individual can move forward. The goal setting process has two components: skill development and psychological development. The outcome sought is that the "coachee" will achieve the goals set, and

I think it is safe to say that the coach has several roles to perform; with the main objective being to develop the person being coached. This can be achieved by increasing self-confidence, identifying relevant and suitable topics for coaching as well as agreeing the setting of suitable planned tasks to support the learning process.

A coach or mentor can help to give guidance and support as challenges are faced, assisting staff in negotiating challenging situations with increased confidence.

One definition of coaching is “Coaching is unlocking a person’s potential to maximize their own performance.” (Coaching for performance, Sir John Whitmore 1992). Or to expand on this; Simply defined, coaching is one person guiding another through a process, leading to performance enhancement. The applications can vary, support to achieve a specific project, helping an individual to do better what they already do well, or developing a skill they don't yet possess.

new products and or a service. Marketers explore ways to distinguish themselves, in the eyes of

Coaching is a useful way to develop people’s skills and abilities, and of boosting performance. It can also help deal with issues and challenges before they become major problems. Coaching typically begins with a personal interview with the employee to assess the situation, review current opportunities and challenges. After the interview, priorities for action are established along with specific desired outcomes. Individuals may also be asked to complete specific action items in a certain period of time that support the achievement of desired goals. Resources may also be provided such as articles, checklists and assessments.

Collins (2009) explains how support is the most distinguishing factor in coaching (Collins, 2009, p. 85). The client needs to feel supported and respected to make strides in coaching (Collins, 2009, p. 85). I believe by welcoming my client and actively listening to the information being shared, as well as, guiding instead of giving advice, my client will be able to see I am committed to the coaching. I believe when these skills are presented and maintained within the coaching process, the client will be more willing to tackle difficult

The first condition for a niche market is ideal is if the market is large enough to be profitable for businesses. The fact that the niche market 's size is too small to offset the cost to the business. In this case the "exploring" a niche market have no meaning for business anymore. Secondly, niche markets have to grow potentially. Once businesses have chosen a niche market, the growth of niche markets synonymous with the growth of the company. In fact if holding a niche businesses can not afford to expand business will bring a lot of risks, no assurance market segment that will not shrink. The third reason is niche market is not ideal anymore to exist due to too many competitors. Even though the opponent is not too strong a threat to enterprises - pie will become less tasty if it is divided for too many people. Once you have identified a niche market to satisfy all three conditions, then on the 4th reason, it now needs to do is to determine their ability to meet that segment or not. If the potential of the small businesses that require large customer, the exploit that niche will become meaningless. The last thing. whether the company has the ability to protect themselves against the attacks of the main competitors or not? This is an important factor to ensure the company can stand on its

Coaching improves individual or team performance using direction and instruction to learn and build on a skill or work towards a goal.

There are a number of definitions to what coaching is; I feel that I can personally relate to the following definition:

What is coaching – “The coach works with the clients to achieve a speedy, increased and sustainable effectiveness in their lives and careers through focused learning. The coach’s sole aim is to work with the client to achieve all of the client’s potential-as defined by the client” The Coaching Manual Starr, J 2008.

Coaching is the art of facilitating another person’s learning, development and performance. Through coaching people are able to find their own solutions, develop their own skills and change their own behaviors and attitudes.

This process helps a firm or organisation in focusing its marketing effort towards a specific segment or a group of segments. Depending on the product, organisational goals, the size of the firm and the marketing resources available a firm may target only one ‘niche’ segment or alternatively focus on several related segments. Another method can be to start with one segment and add more when business grows successfully. Large companies often target all market segments and try to serve them by offering a large variety of products to suit all their needs, wants and demands.

According to Blythe (2010), segmentation, targeting and positioning are fundamental to the concept of meeting customer need. This essay will outline and analyse these fundamental tools of marketing in an academic setting, in addition to, assessing how an organisation of my choice applies them in a working environment. Included in this essay, will be an academic discussion of the advantages of market segmentation, targeting and positioning drawing upon views of various scholars. Furthermore, I will provide a profile of my chosen organisation as well as an assessment of their market segmentation, targeting and positioning strategies. The essay will finish with a summary of the main points and will draw conclusions based on the evidence which has been presented.