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Niche
Marketing
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Article
4: Targeting A Niche
Another term for niche marketing is target
marketing. Your niche market is simply a
bull’s-eye you draw in the field of all possible
customers for all possible products. This
bull’s-eye represents people who share common
traits and a common need that your product or
service satisfies. By choosing a particular
niche market and targeting it, you can make the
best use of your marketing and fulfillment
resources, while avoiding head-to-head marketing
competition with larger companies.
If you want to get a good idea of how narrow
niche markets can be, go to your neighborhood
newsstand and look over the rack of magazines.
You’ll see magazines for motorcycle drivers,
kitten owners and model train collectors. Each
of these magazines serves a very specific niche
audience.
One of the easiest ways to define a new niche
market is by using demographics. Demographics
are facts about the composition of a population.
The characteristics that you listed in the niche
marketing worksheet are all demographic
characteristics. Demographic information can be
geographic, including the country, state,
region, city or even the neighborhood of a
particular group. Demographic data can include
structure of household, such as single people
living alone or unmarried people living
together. It can also reveal age and income
level.
Sometimes the information is psychographic. This
information includes social class, lifestyle,
values, attitude and personality. Do people
spend evenings at home? How often do they go
out? What is their style, their personal
behavior, their self image? Uncovering
psychographic information can be more difficult
than finding traditional demographic data, but
it can provide you with a tremendous boost in
your niche marketing efforts.
Savvy marketers monitor demographic and
psychographic information to spot emerging and
expanding niche markets. Today two of the most
exciting niches markets are those defined by age
and ethnicity.
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