The advantage of launching or promoting a crop for a niche market is the ease with which the potential customers nates be identified and tar asked. It reduces considerably the expenditure on advancement and launch activities.
The marketers divide the potential market segment into niche markets such as market for second hand cars, matrimony cakes, etc. For instance, Ford manufactures Ferrari and Austin Martin for the niche segment of amply rich class.
Sometimes the expected niche markets turn off to be mass markets owing to the huge demand for the reaping or service as in the case of orchard apple tree when it launched its PC in early 1980s. The niche market of PCs became a mass market with subsets such as educational PCs.
single disadvantage of niche marketing is its limited potential which is soon saturated. In such a case, the marketer has to develop or produce a different product to satisfy the rising needs of the market.
Niche market is recognized as a type of focus strategy in which the producer focuses his forethought on satisfying the needs of a selected target market. When products cannot be customized to individual needs, marketing niche strategy is adopted.
Cultural and amicable differences in a community of potential customers lead to the maturation of niche markets to satisfy the different needs of different groups and break the changes to the product or service. Exclusive rights such as patents, brand.
Trademarks, etc excessively result in the formation of niche market where the manufacturer enjoys total control over the niche market cod to his differentiated product or service. Delivery channels ar another factor leading to the creation of niche markets.
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