Niche marketing is definitely risky. It relies on a very small target market and focuses on very limited products and services. However, a lot of people still find niche specific marketing very profitable. In fact, even bigger companies still employ such a strategy. Here are some of the reasons why niche marketing is a good choice for some.
Less competition…
Because niche specific marketing focuses on specific or particular services or products, niche marketers address very specific needs. As a result, you have less competition to worry about. The specialized nature of niche markets count more than the ability of the company to address every need.
For example, instead of coming up with a company that sells cars, establish a company for cars that run on water or hydrogen. This makes your company very specific and, at the same time, a significant contender to the big car manufacturing companies. Because your products are unique, you can take a good chunk of the car-buying market without the big boys doing anything about it. (more…)