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
Cost of Capital Jonathan Poland

Cost of Capital

The cost of capital is the required rate of return that a company must earn on its investments in order…

Strategic Communication Jonathan Poland

Strategic Communication

Strategic communication is the deliberate planning, dissemination, and use of information to influence attitudes, beliefs, and behaviors. It is a…

Employee Costs Jonathan Poland

Employee Costs

Employee costs refer to all of the expenses that are incurred when hiring and employing an individual. These costs go…

Cash Flow Statement Jonathan Poland

Cash Flow Statement

The cash flow statement is a financial statement that shows the inflows and outflows of cash for a company over…

Storytelling Jonathan Poland

Storytelling

Storytelling is the act of using narrative to communicate information in an engaging and memorable way. Businesses can use storytelling…

Risk Culture Jonathan Poland

Risk Culture

Risk culture refers to the values, attitudes, and behaviors related to risk management that are inherent in the culture of…

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.…

Root Cause Analysis Jonathan Poland

Root Cause Analysis

Root cause analysis (RCA) is a method of identifying the underlying causes of a problem or issue in order to…

Content Database

Search over 1,000 posts on topics across
business, finance, and capital markets.

Relational Capital Jonathan Poland

Relational Capital

Relational capital refers to the value that a company derives from its relationships with stakeholders, such as customers, employees, suppliers,…

Economic Change Jonathan Poland

Economic Change

Economic change refers to shifts in economic conditions, such as changes in GDP, employment rates, and prices. These shifts can…

Taxation Risk Jonathan Poland

Taxation Risk

Taxation risks refer to the potential for a business to face financial or reputational harm due to issues related to…

Brand Identity Jonathan Poland

Brand Identity

Brand identity refers to the overall image and perception that a company wishes to convey to its customers. This includes…

Brand Analysis Jonathan Poland

Brand Analysis

Brand analysis is the process of systematically and thoroughly examining a brand in order to develop strategies, plans, evaluations, metrics,…

Advertising Strategies Jonathan Poland

Advertising Strategies

Advertising involves paying to disseminate a message or promote a product or service to a public audience through various media…

Strategic Partnership Jonathan Poland

Strategic Partnership

A strategic partnership is a relationship between two or more organizations that is characterized by mutual cooperation and the sharing…

Soft Launch Jonathan Poland

Soft Launch

A soft launch is a product launch that is limited in scope, such as a release to a small group…

Post Sales Jonathan Poland

Post Sales

After a sale is made, post-sales processes kick in to fulfill the customer’s expectations and strengthen the relationship. This can…