Niche Marketing is a section of the market that is specific to the product or service that is offered by a business. The market characteristics define the products features and which aim to satisfying the customer’s requirements for that products or service. The Niche Marketing should also outline this ensuring that you have a captivated audience at all times. To put this into perspective, if we take Tesco, and the different layers of products they offer. We have “Tesco Everyday Value” product ranges & the premium “Tesco Finest” we can clearly see a difference in market and brand values assigned to these products.
When undertaking Niche Marketing we have to fully understand the unique position of your brand and the products and services you offer. Only then can we fully examine how your products and services will be sold in the market place in the most impactful and cost effective manner. The product or service you offer are not always dictated by price, in most instances they are aimed to satisfy the marketplace and help promote brand experience. Fully understanding the unique position of your business and how the products and services on offer are presented make the difference between a successful niche marketing strategy and wasting time and effort in the wrong direction.
Niche Marketing is about understanding your niche audience. Through marketing segmentation you are able to isolate who your customers are and how your valued proposition can be targeted towards them. Only by understanding your market are you able to fully comprehend the success of your marketing efforts. Niche Marketing is based on marketing segmentation and research offering you the best return on investment and a sustainable business plan.
One of the main considerations of niche marketing is understanding the market place. Saturation of the market is risk of your campaigns and will raise issues which can only be combated by changing strategy. When undertaking niche marketing it is imperative that you partner with a business focused partner who have the marketing knowledge behind them. Your marketing solutions should be an integral part of your business not merely an extension.
When partnering with AsOne, we have a deep understanding of the key marketing principles as well as the business acumen to ensure you are given the best advice at all times. For the most comprehensive strategic marketing with full understanding of how your business works contact AsOne today for a review of your requirements.