What is Niche Marketing
Niche marketing is involves the procedure of serving the market segments that are profitable and include the designing of the custom-made products and also the services for them. These market segments are considered to be too small for big companies so as to serve them with profit because they lack the economies of scale.
The marketers for niche marketing rely upon the loyalty of the business model so as to maintain a volume of the profitable sales.
The techniques of niche marketing include the ways and means so as to be able to outsmart the competitors in the market in such ways that would be unexpected for them and they would not consider doing themselves. One such example is that if one of the competitors comes out the plasma TV for middle-class consumers you can come up with the similar product directed towards another category such as male, female, family and the screen types etc.
Therefore the niche marketing is all about how you can play with your competitors' effort so as to divert all the attention on your products, no matter if they are bigger and better than ones own company. The ways and means sometimes also include the development of a new market together with the creation of new products.
Niche marketing also involves the use of the internet with the development of several different niche websites until a basic income is generated.