can i know which company is using niche strategy right now? and can any one Explain briefly why you are describing niche marketing and not just selection of a target market?
Youd need to look for actual companies yourself but examples would be those in luxury goods, such as luxury cars, perfumes, wines, etc. Niche is more specific to you as the provider, and to that specific marketspace. Whereas a target market is just a segment of that market. So a target market might be wealthy people living in USA, whereas your niche market might be those same individuals but you have their contact details, buying history, relationship with them etc - so that you have can identify and reach that market.
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Youd need to look for actual companies yourself but examples would be those in luxury goods, such as luxury cars, perfumes, wines, etc. Niche is more specific to you as the provider, and to that specific marketspace. Whereas a target market is just a segment of that market. So a target market might be wealthy people living in USA, whereas your niche market might be those same individuals but you have their contact details, buying history, relationship with them etc - so that you have can identify and reach that market.