Google the phrase “niche marketing” and you will find literally thousands of definitions, all valid. But simply put, your niche market is defined as a subset of the larger market in which a specific product or service is focusing. Therefore the market niche for a defined product is aimed at satisfying individual needs, price range, production quality and the intended demographics.
For example: if you are selling cars, how can you narrow that to your niche? Okay, you’re selling cars – small cars. Look a little closer, you may be selling small cars which lower the owner’s carbon footprint. This is your niche. Then the question is posed – who buys small cars? People who want to save on gasoline, perhaps? Those who are environmentally conscious or simply frugal? This narrowly defined consumer is referred to as the target market within your niche.
The go-to-market experts at JewlZ can guide you through the systematic process of identifying your niche and target audience. In hindsight, the conclusions that are reached will seem logical and easily identified. However, each niche market is strategically supported by research, statistical data and a competitive matrix. The integration of market vision with targeted action is what makes JewlZ …simply brilliant!!!