Niche Marketing
Everything on Niche Marketing
Know Your Niche Market

What is Niche Marketing?

The word ‘Niche’ is defined as: “A special area of demand for a product or service”, and the word ‘Marketing’ is defined as: “The opportunity to buy or sell”. Let us put the two words together and, "Niche Marketing", means buying or selling a product or service that is in a special area of demand, meaning that a product or service is being sold and not necessaryly by what means, to those people who are most interested in that particular product or service and not to just to the world of "Joe Public", in general.

We often come across big businesses using niche marketing. For example, perhaps a company that is making computers along with computer accessories, may advertise an all-in-one copier, printer and scanner to the home computer market, while at the same time promoting a single function machine, ie. "a copier", or "a printer", or "a scanner" to large businesses.

One of the things that make niche marketing so attractive to sellers is that their advertising budgets are either smaller or go further becuase it costs less to advertise to a specialized, (niche), market than it does to advertise to whole larger and 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. Let us say for instance, 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 about the life and times of a polar bear from birth to death, those animal lovers at the north pole are likely to be your niche market.Those animal lovers who are looking after koala bears asleep in a eucalyptus tree in the east Australian bush are not likely to be interested at all. Then you could look at broadening your niche by writing a book about the genetic relationship between bear species which would tend to appeal to both these niche markets in the nothern hemisphere and the southern hemisphere, and probably a lot more in between..

Niche marketing is a very effective and cost efficient way to advertise and sell specific products or services to a specific audience or, more hopefully, buyers of that product or service. Increasing your market by introducing more information will increase your costs, both in production and advertising.

Demographically speaking it''s fair logic to assume advertising a book about polar bears to a niche audience in the arctic is going to produce better results than advertising the same book to a worldwide audience. Granted you may not make a fortune but your costs will be in perspective.