Niche Market Examples

Niche Market Examples

Niche Market Examples Jonathan Poland

A niche is a specific group of consumers who have distinct preferences and needs. These groups are often smaller than the overall market, and can represent an opportunity for smaller companies to target and serve a specific customer base. Niches can be found in a variety of industries, and can be defined by a range of factors such as age, demographics, interests, and lifestyles. In some cases, large companies may choose to enter a variety of niches in order to counter growing competition from smaller firms and protect their market share. By targeting and serving specific niches, companies can often differentiate themselves from their competitors and build a loyal customer base. The following are examples of a niche.

Behavior
A mobile device plan for a customer who uses a great deal of bandwidth.

Benefits
A credit card for customers who want a large number of benefits such as various types of insurance.

Culture
An airline that provides authentic Japanese food on its route to Tokyo.

Demographic
Shoes designed to appeal to urban professional women between 21 and 31 years of age.

Enthusiasts
Light and durable bicycles designed for cycling enthusiasts.

Feature Reduction
Removing common features in a product or service that some customers find cumbersome, invasive or annoying. For example, a television remote without cloud based voice search.

Features
Features that most people don’t use but that are important to a small group of customers. For example, a web browser that allows you to configure hotkeys.

Geographic
A restaurant that offers local specialties.

Language
A Korean language television channel offered in the United States.

Lifestyle
Organic food with healthy ingredients.

Occasions
A cake shop that specializes in events such as weddings.

Opinions
A newspaper that targets readers with a particular set of opinions.

Price Sensitivity
A luxury fashion brand that targets customers who aren’t particularly price sensitive.

Risk Tolerance
An unusually safe model of car designed for customers who prioritize safety.

Status
A fashion brand with aspirational products designed to represent social status.

Style
A snowboard brand that targets a particular sense of style in its designs.

Learn More
Examples of Strategy Jonathan Poland

Examples of Strategy

A strategy is a long-term plan that an organization or individual develops to achieve a specific goal in a competitive…

Inherent Risk Jonathan Poland

Inherent Risk

Inherent risk is a term used in the field of auditing to describe the risk that a company’s financial statements…

Lobbying vs Government Contracts 150 150 Jonathan Poland

Lobbying vs Government Contracts

A government contract and lobbying the government are two distinct activities within the realm of government and private sector interactions.…

Perceived Value Jonathan Poland

Perceived Value

Perceived value is the subjective worth that a customer assigns to a product or service based on their own personal…

Implementation Jonathan Poland

Implementation

Implementation is the process of putting a plan or idea into action. In a business context, implementation refers to the…

Managing Expectations Jonathan Poland

Managing Expectations

Managing expectations is the practice of communicating information to prevent gaps between stakeholder perceptions and business realities. It is common…

Examples of Respect Jonathan Poland

Examples of Respect

Respect is the recognition and understanding of the inherent value and worth of people, animals, and things. It is a…

Labor Specialization Jonathan Poland

Labor Specialization

Specialization of labor involves dividing work into specific roles or tasks, with the goal of improving productivity, efficiency, quality, and…

Knowledge Transfer Jonathan Poland

Knowledge Transfer

Knowledge transfer is the process of transferring knowledge, skills, and information from one person or group to another. It is…

Content Database

Research Skills Jonathan Poland

Research Skills

Research skills are abilities that enable individuals to effectively investigate, analyze, and communicate knowledge. These skills are essential for success…

What is a Business Case? Jonathan Poland

What is a Business Case?

A business case is a document that presents a proposal for a project, strategy, or course of action. It is…

Product Demand Jonathan Poland

Product Demand

Product demand refers to the desire or need for a particular product or service in the market. It is a…

Risk Tolerance Jonathan Poland

Risk Tolerance

A risk is the possibility of an adverse event occurring, while a trigger is the root cause of that event.…

Sales Goals Jonathan Poland

Sales Goals

Sales goals are targets for the revenue or units sold that a sales team or individual is expected to achieve…

Curiosity Drive Jonathan Poland

Curiosity Drive

Curiosity drive, or the desire to obtain new information, is a fundamental human motivation that drives learning and exploration. In…

Public Capital Jonathan Poland

Public Capital

Public capital refers to the physical and intangible assets owned and managed by the government for the benefit of society.…

Bausch + Lomb Jonathan Poland

Bausch + Lomb

Baxter International Inc. is a global healthcare company that develops and manufactures medical products and services for a wide range…

Decision Trees Jonathan Poland

Decision Trees

Decision Trees are a popular machine learning algorithm used for both classification and regression tasks. They are part of a…