Niche marketing Flashcards
1
Q
What is niche marketing
A
Aiming products at a singular market segment
2
Q
What are the potential benefits of niche marketing
A
businesses get to know there customer well and produce more tailored products
Supplier something specific may encourage consumers to pay more for the product
3
Q
What are potential drawbacks of niche marketing
A
Smaller market to sell to potentially less revenue
Lower growth in the market and ultimately sales
If niche markets are profitable they could face higher competition
