Niche marketing is a little bit tricky, tricky because finding your niche is the secret to your success. And without the right resources, it’s nearly impossible to totally dominate your niche. Niche marketing is the opposite of mass (general) marketing.

It targets specific people with special needs. Niche marketing is often overlooked in many Native American casinos. However, ethnic or niche marketing may be worth the extra effort involved since their revenues have the potential to yield much needed incremental profits.

This is the ideal choice for new internet marketers who don’t have a lot of money or are limited in time. A major retail store would cost a lot of money for merchandise and require a ton of effort to be put forth.

Niche marketing is earmarked by small, specialized market segments. It is the process of focusing on a product or service that mainstream businesses usually choose to bypass on account of what they consider slim profit potentiality; and as a matter of course, makes the niche available to the small businessman.

This type of marketing is fun because it allows you to tap into your specific interests and areas of expertise. Because you enjoy learning about the niche, developing relevant marketing and sharing important information with others, you will be more likely to do it, happier when doing it and excited to interact with the target consumers.

This type of marketing is not a fleeting strategy. You are not acquiring leads you have no connection to. Niche marketing is being used a lot by businesses to help them succeed in the over crowded Internet marketplace. The Internet has allowed for business start up being easy and makes running an online business almost automatic. Niche Marketing is the concept of targeting a specific group or audience.

This marketing is all about leverage. You are using your niche to leverage your position in the marketplace beyond where you would have been without the niche. Niche marketing is not something new. Savvy entrepreneurs always sell to niches. It is finding small areas of the business markets which command a special area of interest and customer demand. A small slice of the pie in the capital markets which huge corporations have no interest in.

Niche marketing is everywhere, from hotels to restaurants to retail. The mistake most people make is to assume that the key element is price, with one example designed to appeal to the more affluent consumer. Niche marketing is an important aspect of any company’s success whether they are local or international.

Don’t be a procrastinator who says, if at first I don’t succeed, theres always next year. Thats not a likely scenario. Niche marketing is a marketing segmentation strategy in which a company focuses on serving one segment of the market. A niche is a small distinguishable segment that can be uniquely served.

Niche marketing is also quite affordable compared to mass marketing, the marketing strategy at the very opposite end of the spectrum. Since only a small portion of the market is being addressed, smaller costs are at stake to go about the promotional campaign.

This type of marketing is selective targeting of a specific group of consumers and focusing our marketing to them. Coca Cola is a good example of niche marketing. It marketing is just finding a product or service that appeals to a specific audience. For instance a niche market would be selling diet books.

It is definitely not stupid. It depends what your trying to do. Niche marketing is the opposite of mass (general) marketing. It targets specific people with specialized needs. Niche marketing is basically marketing your website to a particular group of people in one area. For example you decide to write an information product on how to build a pond; this is called a niche market.

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What is niche marketing?

Answer
NICHE MAARKETING
Market segments are normally large identifiable groups within a market—for example, luxury car buyers, performance car buyers, utility car buyers, and economy car buyers. Niche marketing (or “niching”) focuses on subgroups within these segments. A “niche” is a more narrowly defined group, usually identified by dividing a segment into subsegments or by defining a group with a distinctive set of traits which may seek a special combination of benefits.

For example, the utility vehicles segment might include light-duty pickup trucks and sport utility vehicles (SUVs). And the sport utility vehicles subsegment might be further divided into standard SUV (as served by Ford and Chevrolet) and luxury SUV (as served by Lexus) niches.

Whereas segments are fairly large and normally attract several competitors, niches are smaller and normally attract only one or a few competitors. Niche marketers presumably understand their niches’ needs so well that their customers willingly pay a price premium. For example, Ferrari gets a high price for its cars because its loyal buyers feel that no other car comes close to offering the product-service-membership benefits that Ferrari does.

Niching offers smaller companies an opportunity to compete by focusing their limited resources on servicing niches that may be unimportant to or overlooked by larger competitors. For example, the Cleveland car insurer Progressive Corp., sells “nonstandard” auto insurance to high-risk drivers with a record of auto accidents or drunkenness. Progressive charges a high price for coverage, has made a lot of money, and had the field to itself for several years.

However, large companies also practice niche marketing. For example, American Express offers not only its traditional green cards, but also gold cards, corporate cards, and even platinum cards aimed at the niche of the top-spending 1 percent of its 40 million cardholders. And Nike makes athletic gear for basketball, running, and soccer but also for smaller niches such as biking and street hockey.

In many markets today, niches are the norm. Companies will have to niche or be niched. There is one kind of marketing that is sold on niche marketing. This is “Direct Marketing.” Direct marketers have always practiced niche marketing. Instead of using shotguns and blasting away at whatever is out there, they use the equivalent of target rifles with powerful telescopic sights — aiming only at their particular part of the market. There’s a direct marketing blog that talks about this: word-jobber.blogspot.com.