Niche market
A niche market
Not every product can be defined by its market niche. The niche market is highly specialized, and aiming to survive among the competition from numerous super companies. Even established companies create products for different niches; Hewlett-Packard has all-in-one machines for printing, scanning and faxing targeted for the home office niche, while at the same time having separate machines with one of these functions for big businesses.[3]
In practice, product
The final product quality (low or high) is not dependent on the price elasticity of demand, but the specific needs that the product is aimed to satisfy and, in some cases, aspects of brand recognition (e.g. prestige, practicability, money saving, expensiveness, environmental conscience, or social status). When there are needs or desires with specific and even complex characteristics, the market niche requires specialized suppliers which are capable of meeting such expectations.
Niche audience
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Unlike mass audiences, which represent a large number of people, a niche audience is an influential smaller audience.
With few exceptions, such as ]
See also
Notes
References
- ^
- "niche". Merriam-Webster.com Dictionary.
- "niche". Dictionary.com Unabridged (Online). n.d.
- ^ Thivierge (March 20, 2021). "Digital Niche Marketing:Definition". Digital HEC Montréal. Retrieved March 27, 2021.
- ^ "3 Rules for Niche Marketing". Entrepreneur. Retrieved 2012-07-09.
- ISBN 978-0-19-956875-8.
- ^ Lotz, A. (2007), The Television will be revolutionized, pg 180
- ISBN 978-1-119-26943-4.