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Benefits of Niche Marketing

Submitted by frndzzz on Sun, 06/02/2019 - 09:18

Some fo the benefits of niche marketing are as follows. So let us check it out its benefits to know more about niche marketing.

Points on benefits of niche marketing are :

  1. Niche market can be identified and premium price can be charged for highly differentiated products which are highly valued by the target niche market
  2. Loyal customer base can be established if the company is the first to exploit a niche market. 
  3. Niche market in future may grow into mass market.
  4. Little or very low competition is seen while focusing on niche market.
  5. Niche market product are not very price sensitive so higher profit is possible.
  6. In niche marketing, Small firms are able to survive and can earn profits even in the markets that are dominated by the large firms.

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Purpose of Niche Marketing

Submitted by frndzzz on Tue, 12/31/2019 - 07:03

Points on purpose of niche marketing are listed below. Niche marketing focuses on niche area of any market segment or products and services, faces less competiton and more chances of customer retention. Niche market products or services are more effective at the initial state of product life cycle. You might also like advantages & disadvantages of niche marekting for more information.

Essential Steps to develop the Niche Marketing Strategy

Submitted by frndzzz on Tue, 12/31/2019 - 07:24

Some of the important steps to develop the niche marketing strategy are discussed below. There are many niche marketing strategies available, all of them can make money  to get success in business. Some of the essential niche marketing strategies to grow your business are as follows. Also check it out advantages and disadvantags of niche marketing to know more about it.

What is Niche Marketing?

Submitted by frndzzz on Sun, 06/02/2019 - 08:42

The term "Niche" can be defined as a "A special area of demand for a services or a product", While marketing is dened as an opportunity to buy or sell products or services.

Niche marketing can be explained as buying or selling of a product or service in a special area of demand. 

In niche marketing small segments of large market are identified and campaign is designed to target audience by providing specific solutions to them.

Niche marketing need to be different, need to be specialize and be able to stand out from the crowd.

 

Advantages and Disadvantages of Niche Marketing

Submitted by frndzzz on Thu, 01/17/2019 - 02:12

Advantages and Disadvantages of Niche Marketing are as follows, So let us check it out one by one.

Advantages:

The following are the advantages of niche marketing :

1. Less Competition

Niche marketing has comparatively quite less market competition for the viable competitors purchasing services or products.It helps business to build their brand loyalty.

What is Market economy ? Advantages and Disadvantages of Market Economy

Submitted by frndzzz on Fri, 03/15/2019 - 11:40

Check out Advantages and disadvantages of market economy (capitalism) given below. So let us find out some points on advantages and disadvantages to know more about market economy. This type of economy is nearly free fro governement interference, Economy is based on private ownership where individual control the production, distribution and sales of goods and services.

Advantages of internet marketing

Submitted by frndzzz on Mon, 07/28/2014 - 03:04

Advantages of  Internet marketing - It is also known as online marketing, In order to increase sales of any product using "internet" or web  marketing is done. There are various advantages of this type of useful  "internet marketing" along with online advertising can be done in various ways such as advertising on websites, blogs, email, and many affiliate programs are also available along with it to increase the leads of products and hence higher profit.