niche marketing

  

Definition

Concentrating all marketing efforts on a small but specific and well defined segment of the population. Niches do not 'exist' but are 'created' by identifying needs, wants, and requirements that are being addressed poorly or not at all by other firms, and developing and delivering goods or services to satisfy them. As a strategy, niche marketing is aimed at being a big fish in a small pond instead of being a small fish in a big pond. Also called micromarketing.

Use niche marketing in a sentence

  • You can try for niche marketing if you think that you really need your product to go out to one small demographic.

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  • Me and my business partner practiced niche marketing and concentrated all of our efforts on a small percentage of the population.

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  • You may want to target a specific group of people for your product by using a specialized niche marketing plan.

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