What exactly is niche marketing

 What exactly is niche marketing?

"A special area of demand for a product or service," according to the dictionary. "The opportunity to buy or sell," according to the definition of marketing. When the two works are combined, niche marketing means purchasing or selling a product or service in a specific area of demand. All that really means is that a product or service is being sold to people who are most interested in that specific product or service, rather than to the general public.

Large corporations frequently employ niche marketing. For example, a computer and computer accessory manufacturer may advertise all-in-one copy/printer/scanners to home computer users while advertising single function machines to large businesses.

One of the benefits of niche marketing for sellers is that their advertising budgets are stretched further. Advertising to a specialized market is less expensive than advertising to a larger market.

Niche marketing must be tailored to the specific needs of the target audience. Niche marketers must tailor their product to meet those specific requirements. Those who own poodles, for example, will be most interested in your product if you have designed it to make poodle grooming easy enough for an untrained professional to do. Those who own Blood Hounds or cats are unconcerned. If you write an e-book on how to start and succeed in an online business, those who are looking for that information are your niche market. Those who are content with their current situation are uninterested.

Niche marketing is a highly effective and cost-effective method of advertising and selling specific products or services to a specific audience or, ideally, buyers of that product or service.