PRESENTATION OF NICHE MARKET

1.

PRESENTATION
NICHE MARKET
SEHON MEZON ZACHEE ЭУ111

2.

DEFINITION: NICHE MARKET
MARKET: A marketplace can be physical, such as a retail
location, or virtual, such as an online brokerage, where there
is no physical contact between buyers and sellers. Key
characteristics of a marketplace include the availability of
space, buyers, and sellers.
NICHE: A niche refers to a specialized market segment for
a particular type of product or service, aimed at a specific
audience with specific characteristics, preferences, or needs.
NICHE MARKET: A niche market is a narrowly defined
segment of a larger market, characterized by specific needs,
preferences, or identities that distinguish it from the general
market.

3.

KEY CHARACTERISTICS OF A NICHE MARKET
Companies specialize in focusing on a particular type
of product or service tailored to the needs of a specific
group.
The target audience or target group is well-defined by
demographics (age, gender, income), firmographics
(company size, industry), or psychographics (values,
interests, behaviors).
Unique Value Proposition. That is, the
products/services address unmet or underserved needs
in a larger market.
Limited Competition. That is, due to the targeted
nature of the market, competition is often less than in
mass markets.

4.

NICHE MARKET EXAMPLES
Gluten-free food products (for people with
dietary restrictions).
Left-handed tools and utensils.
Eco-friendly personal care products.
Vintage clothing for specific eras or styles.
Industry-specific training programs (e.g.,
healthcare cybersecurity).
Pet products for specific breeds or health
conditions.

5.

ADVANTAGES AND DISAVANTAGES OF NICHE MARKET
Advantages : Less competition. This means
easier to establish market leadership.
This targeted marketing results in more
effective and impactful messages.Market
Disadvantages: Limited market size: Niche markets often
have a limited customer base, limiting their growth potential
and revenue opportunities.
Financial vulnerability: Niche businesses are financially
vulnerable due to their reliance on a specialized market.
Increased customer loyalty. This is achieved
through a deep understanding of audience
needs and strengthens relationships.
Trend-dependent niche markets are exposed to risks if
consumer preferences shift or trends fade, impacting
sustained demand.
Premium pricing potential translates into
specialized solutions that are often more
expensive.
saturation: Increased competition in niche markets can lead
to market saturation, making it difficult for businesses to
differentiate themselves and maintain their unique selling
points.
Expert positioning translates into the
company being recognized as a specialist in
its field.
Scaling up a niche business can be challenging, particularly
if the products or services are too specialized to appeal to a
broader market, hindering the achievement of economies of
scale.

6.

IDENTIFYING A NICHE MARKET
Analyze your expertise and interests. Align your business
with your knowledge and passion.
Analyze customer pain points. Use surveys, interviews, and
online discussions to identify unmet needs.
Research your competitors. Identify gaps in their offerings
or underserved customer segments.
Assess market size and viability. Ensure there is sufficient
demand to support the business.
Test your idea. Use landing pages, crowdfunding, or smallscale launches to validate demand.
Evaluate trends. Identify emerging needs or changing
consumer behaviors in your area of ​interest.

7.

STRATEGIES FOR SUCCESS IN A NICHE MARKET
Clearly differentiate yourself. Highlight what makes your offering unique in your niche.
Personalize the experience. Tailor products, services, and communications to a specific audience.
Build a strong brand identity. Become the go-to provider for that specific need.
Interact directly with your customers. Create a community and collect their feedback to refine your
offerings.
Use targeted marketing channels. Focus on the platforms where your target audience is most active.

8.

CONCLUSION
In the world of business, understanding niche markets is crucial. A niche market is a specialized
group of customers with specific needs and interests. By focusing on these niche markets,
businesses can offer tailored products or services that resonate with their audience.
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