NICHE MARKETING

Submitted By:
Portia Sikder
ID: 52044035
Section: A

Submitted To:
Tasneema Khan
Assistant Professor,
Department of Banking and Insurance,
Faculty of Business Studies,
University of Dhaka.
 CONTENTS
• NICHE MARKETING
• PURPOSE OF NICHE MARKETING
• ELEMENTS OF A NICE
• CHARACTERSTICS OF NICHE MARKETING
• STRATEGY
• BENEFITS OF NICHE MARKETING
• DISADVANTAGES OF NICHE MARKETING
• GENERAL VS NICHE MARETING
• LONG TERM ADIENCE FORMULA
• EXAMPLES
• CONCLUUSION
 NICHE MARKETING

Niche marketing is defined as channeling all marketing efforts

towards one well-defined segment of the population. There is
one important thing to understand that 'niche' does not exist,
but is created by smart marketing techniques and identifying
what the customer wants.
PURPOSE OF NICHE MARKETING

Once small business can't do everything and compete with

everyone. That's why finding a niche is so crucial to get online
success. Another reason that finding a niche is so crucial to a
small business's success: it makes it far easier to describe to
potential customers what one do and sell.
ELEMENTS OF A NICE
 CHARACTERSTICS OF NICHE MARKETING

• The market niche defines
the product features aimed at
satisfying
specific market needs, as well
as the price range, production
quality and the demographics
that it is intended to target. It
is also a
small market segment. Not
every product can be defined
by its market niche
 STRATEGY
The size of a business’s niche relative to its target audience
can vary. Some niches make up the entire target audience,
while others make up a small percentage. Depending upon
the size of the niche, a niche strategy may consist of any of
the following:
• Marketing only to your niche
• Marketing to both your niche and your larger target audience,
refining your content slightly more for the niche
• Marketing to your target audience from the standpoint of
your niche
 BENEFITS OF NICHE MARKETING
1. Enhanced Customer
Relationships
2. Reduced Competition
3. Increased Visibility
4. Word of Mouth Growth
5. Honed Expertise
6. Less Resources
7. More Fun
 DISADVANTAGES OF NICHE MARKETING

• Because of the smaller market size, this marketing approach

is not suitable for a company that is small and intends to
grow in the current market. The smaller market makes it
difficult to enjoy a larger profit margin in the market.
• Going niche can mean that there are potentially fewer
numbers of customers, which could be a risk to the
business.
•  Among the advantages and disadvantages of niche
marketing is that there is limited growth because there is a
small group of customers to buy products.
GENERAL VS NICHE MARETING
LONG TERM ADIENCE FORMULA
VARIOUS SECTORS OF NICHE MARKETING

• Food Sector
• Organics
• Local Product
• Livestocks
EXAMPLES
 CONCLUUSION
When it comes to the most effective marketing method for our
business, there isn’t a definitive choice between niche
marketing or mass marketing. However, with research,
planning, and the right tools, we can find that niche marketing
could work well for your business; there are plenty of
advantages for doing so.