General

10 Examples of market niche

Market niche

To speak of a market niche is to refer to a certain group of people who have a common need and that some companies are determined to satisfy. This group must be objective, qualified and quantified since it depends on their needs and their location, the strategies and products that the company is going to launch.

Many companies in order to achieve successful sales and excellent results in the market, generally look for these niches to be able to work based on them. These groups can be identified by their purchasing power, their habits, their behavior, among others.

The action of a company is determined by the ability it has to respond to the needs of this niche as well as its ability to understand and respond to certain requests is that it can present the group in a general way.

The identification of a market niche can make things much easier for a company, since once the group has been identified and determined, the resources and tasks will be focused directly on the needs that must be covered in that group.

The growth or stagnation of a company depends largely on the way in which these groups are identified , as well as the way in which the need is attacked in order to meet and satisfy it.

Examples of market niches

  1. Personalized attention to people with conduct disorder and their reintegration into society.
  2. Sale of school supplies for children from 4 to 7 years old.
  3. Financial advice for small entrepreneurs.
  4. Music school for children with reduced capacities.
  5. Preparation, distribution and sale of sweets and desserts for vegetarians.
  6. Advice and help to people between 30 and 40 years of age who find it difficult to relate.
  7. Management of weight control in children and adolescents.
  8. Sale of organic and biodegradable cleaning products.
  9. High-class dog and cat nursery.
  10. Hotels specialized in personalized attention for the elderly.

Characteristics

  • It is a small group . The approach is aimed at a specific group of people with a need.
  • The demand or need to be covered is common among all the people that make up the group.
  • If the product really meets the need , the group will pay whatever is necessary to acquire it.
  • It must have qualified personnel to be able to meet the demand efficiently.
  • There must be a real interest in wanting to meet and meet the required expectations.
  • Depending on the complexity of the niche , you may find yourself with a lot or little competition.
  • The benefits and profitability must be real and tangible.

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