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Niche Marketing

The document discusses niche marketing and provides guidance on how to develop a niche marketing strategy. It defines a niche market as targeting a specific subset of the overall market based on needs, price, demographics, etc. The benefits of niche marketing include focusing resources to maximize returns, differentiating from competitors, and directly targeting the best suited clients. It also outlines the 5 P's for developing a niche strategy - positioning, product, price, place, and promotion. The document provides suggestions for conducting a SWOT analysis and defining an ideal target client and how to reach them. It concludes with various branding and positioning activities to promote the niche offering.

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Chetan Agrawal
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133 views15 pages

Niche Marketing

The document discusses niche marketing and provides guidance on how to develop a niche marketing strategy. It defines a niche market as targeting a specific subset of the overall market based on needs, price, demographics, etc. The benefits of niche marketing include focusing resources to maximize returns, differentiating from competitors, and directly targeting the best suited clients. It also outlines the 5 P's for developing a niche strategy - positioning, product, price, place, and promotion. The document provides suggestions for conducting a SWOT analysis and defining an ideal target client and how to reach them. It concludes with various branding and positioning activities to promote the niche offering.

Uploaded by

Chetan Agrawal
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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BY:

SONAM SHARMA 38
SANKET PATIL. 25
DINESH BORHADE 58
YOGESH PAGERE 52
SHRIKANT PANPALIYA 32
NICHE MARKETING
DEFINITION
 “A niche market is a subset of the on which a specific product is
focusing on : therefore the market niche defines the specific market
needs, as well as the price range, production , quality and the
demographics that is intended to impact.”

“A small market that is not served by competing product”_

Keegan Etal Use word “pocket” to define a niche _

Hooley and Saunders


WHY NICHE MARKETING??
Influence your Core Competence.
Focus your Resource to maximize your Returns
Easily identify opportunities for vendors and Alliance
Relationships.
Definitely target Clients Best suited to use your
service.
Differentiate the your firms with your clients
community and competitions.
Focus your firm’s messaging and marketing campaign.
The 5 P’s.
Positioning - how you’re going to define your
place in the market
Product or Service - what you’re going to offer
Price - how much you’re going to charge for your
services
Place - who you’re going to serve and where you’ll
find them
Promotion - the activities you’re going to
undertake to drive interest in these services
Niche Marketing
Segmentation Vs. Niche Marketing

Integrated marketing concepts.

Long term relationship with customers.


Know Your Competitors
What are your competitors doing in your niche?
 Do they have web pages, a brochure, other brand materials in this
area that can give you a sense of their positioning?
Focus first on “hard facts”
 Web site, brochures, associations, etc.
Then gather softer information from your network of
contacts
 Vendors, clients who chose you over them, former staff
Your intention is to gain information that will enable you
to create a differentiating positioning for your niche
SWOT Analysis
Strengths Weaknesses

Vu
ln
er
ab
n t i li
i ty
ra
st
Opportunities C
on Threats
SWOT Analysis
Strengths and Weaknesses
Leadership
Organization – management, culture,
image
Staff – skills/specializations
Financial performance
Infrastructure
Opportunities and Threats –The 3 C’s
Clients: What does your target market look like?
Are there any existing clients you can offer this
service to without conflict?
Community: What’s happening with your
vendors or alliance partners? Is anything
happening related to this service in your
geography?
Competition: How well do you know your
competition? What are their strengths and
weaknesses?
Defining Your
Niche Strategy
Define your ideal target client for the service by:
Size
Type of business
Driving need
Geography
Culture
Here’s Where Place Fits!
Determine where you will find and how you’ll reach
your ideal target clients :
Within existing clients.
Internet.
Niche Brand
Positioning Activities
Write your niche “story” and elevator pitch
Allow your clients to speak for you
Develop a section of your firm’s Web site that is
dedicated to your niche
This helps increase the credibility of your offering

Create a high-quality printable PDF that tells


your niche “story”
Include client testimonials and success stories
Niche Brand
Positioning Activities
Incorporate your niche story into your firm’s:
Newsletters and Web site
Brochures and advertisements
Proposals
PPT templates
Client and prospect letters and other templates
Employee handbooks
In addition, use certifications or logos in the
above and your letterhead and business cards
Case Study
Hallmark
Estee Lauder
Johnson And johnson
IBM
Magzine
Conclusion.

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