niche marketing with example?
Posted on 05. Dec, 2011 by nichemoneynow in Niche Marketing
in marketing a term niche marketing is used. why is it important for a marketer to focus on a niche segment. explain with the help of an example.
P.S pls give a proper answer .. this question is going to come in my exam .. its a 10 marks question .... and plsss give a proper example too ... very urgent ...
thanks in advance 
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One Comment
Nino Rostomashvili
05. Dec, 2011
To be successful you need to promote your product and to promote you need to have better knowledge about the product and its niche marketing and if the product demand is more and you need to succeed in your business, then you need to find a niche market to sell your product. It is always better to select a product that is of your interest, so that you can market it well after gathering relevant information about the product and niche marketing. You would need to conduct research, which needs lot of time investment, by which you can sell well, only when you have interest in the product. Thus the first important thing is to choose a product carefully.
Niche market helps you only to concentrate on your target audience without being bothered about the rest. You are only focused on your prospects and their needs. Use marketing methods that work well for niche market and success will just be round the corner. Many new comers in their venture fail to understand the importance of niche market, but realize it only after losing a great deal of money.
Firstly a niche is a sub-component of a larger category. So you clearly identified your niche market, then you establish they are willing to pay for your products or services. The most successful niche is ideally a selection or untapped group of people who need to have what you have to offer. One of the benefits of niche marketing is the sharp focus on a distinct group and satisfying their needs. By its nature narrowing the marketing focus to a special niche automatically means you are competing against a limited number of competitors making the possibility of dominating a smaller niche more achievable
Hope this will help in your exam. Good Luck