Niche is a special area of demand for a product or service.
Basically, an opportunity to buy or sell a particular product catered to a specific industry.
If your niche is in fitness. You would want to sell fitness equipments, supplements, workout trainings, recipes, and etc. If you are a Niche Marketer, you are providing a product or service and selling it to the people who are most interested in that particular product or service. Not to the general population.
There are big niches and micro niches. Computers are a big, general niche, which caters to almost every single person in the world. What differentiate a niche and a niche marketer is knowing who to sell it to, to get the maximum results.
One of the things that make niche marketing so attractive to sellers is that their advertising budgets go further. It costs less to advertise to a particular demographic audience and not to a broader market.
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Niche marketing must be designed to meet the unique needs of the targeted audience. You must tailer your product to meet those wants and not just their needs.
If you are selling dog training courses. You might want to target those who have puppies. They are most likely people who recently got their new pups and wanting to learn everything on how they can train their new puppy. If you generalize and promote your product to every single person who has a dog or a puppy, you might not get the optimal results. Being specific is the best way to being a Master.
If you written an e-book that will explain how to start and succeed at an online business, those who are looking for that information are your niche market. Those who are happy doing what they are doing are not interested at all.
Niche marketing is very effective and cost efficient way to advertise and sell specific products or services to specific audience or, hopefully, buyers of that product or service.