Six Strategies For Successful Niche Marketing Analysis

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According to Heidi Cohen of the actionable marketing guide, “marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.” Marketing is a crucial addition to the everyday world. Without marketing many of the world’s most prosperous companies would not be. Marketing can continuously be dissected, because it holds various sections. There are multiple marketing strategies. Inside wide range of strategies there are a few that stand out, and they are, cause marketing, viral marketing, seasonal marketing, niche marketing, and social media marketing strategies. Cause marketing is the interaction between a non-profit …show more content…
This particular strategy focuses on one portion of marketing a product. It is based on personal interest in a way. By definition niche marketing is “a portion of a market that you 've identified as having some special characteristic and that 's worth marketing to” (Niche). A niche marketer should utilize five smaller strategies in order to make his/her niche market prosper. In reading “Six Strategies for Successful Niche Marketing” by Eric K. Clemons, Paul F. Nunes, and Matt Reilly, it states that the first strategy is to “target carefully.” By target carefully, the authors are referring to choosing a niche that would benefit the business. Marketers should refrain from focusing on a niche market that is not profitable. The next important feature strategy is listening. Producers have to learn how to listen to consumers. Niche marketers should be attentive towards “consumer-generated content” (Niche). This means companies should pay attention to all feedback given to their goods or services. The third strategy is “controlling production cost.” This step is simply about the manufacturing of the product. Creating strenuous amounts of a product that is not widely advertised can harm a company. After controlling product cost is controlling distribution cost. Deciding on a selling price is difficult, because forecasting demand is not a simple task (Niche). Which is why, having a “flexible” inventory is the way to go. The last strategy is evaluating possible future discontinuances. A company should take bad products into consideration, because those products may bring positive attention to prospering

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