niche marketing

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A marketing segmentation strategy designed to fill a specific or unserved need in a tightly defined part of the market. The entire company marketing efforts and resources are focused on serving one segment, or sub-segment, of the market. A concentrated marketing campaign will help to both gain deep knowledge of the specific niche and also ensure the product becomes more and more customized to meet the needs of the specific market. Niche marketing can be in the pursuit of higher profits or in an attempt to be the leader in a small market. Also known as concentrated marketing and competitive advantage. See also micromarketing.

Subjects: Marketing.

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