Niche Market Strategy - Explained
What is a Niche Market Strategy?
Written by Jason Gordon
Updated at April 7th, 2022
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What is a Niche Market Strategy?
A niche market caters to the specialized needs of a select segment of the market. It offers products or services in an industry vertical that is oft neglected.
Back to: STRATEGY & PLANNING
The strategic advantage of establishing a niche market include:
- It facilitates ease of market share capture in the given niche by meeting a majority of the demand in the niche category.
- There is less competition as another small business might not want to take on an already established brand locally.
- Large businesses mostly ignore such brands and don't directly give them any competition.
- It's a good toehold to enter into an established market with larger scope.
Related Topics
- Competitive Strategies
- Functional Strategies
- Organizational Strategies
- Operational Strategy
- Contestable Market Theory
- Value Disciplines
- Porter's Generic Strategies
- Differentiation (Strategy)
- Commoditize
- Niche Market Strategy
- Long Tail
- Low-Cost Production
- Resource-Based View of the Firm
- Ansoff Matrix
- Customer-Centric Strategy
- Blue Ocean Strategy
- Overfished Ocean Strategy
- Hedgehog Concept (Strategy)
- Innovation Strategy
- Bleeding Edge
- Disintermediation (Strategy)
- Strategic Alliance
- Coopetition (Strategy)
- Loss Leader Strategy
- Lean Strategy
- Game Theory Perspectives