A Niche Market is a small segment of the mass market that is sliced out for a particular product. That is to say, a particular product aims at a certain consumers, like health drinks are aimed at children and mothers. Or like atta or pickles is aimed at housewives. These are the target audiences and are treated as exclusive customer for a particular product or their brand of product. From among the mass marketplace this segmentation of marketing aiming only at exclusive consumers is what is called a niche market. This market niche has to define the product and its features and unique selling propositional points including its price to the exclusive segment of the audiences or consumers. Only then we could be able to capture this segmentation of niche Marketing.
To define a niche market in clear terms sports channels are better examples. There are sports channels on Television like ESPN, STAR Sports, STAR Cricket and many more. These channels target only sports lovers and enthusiasts. All these channels have their own niche markets. Some sports lovers watch a certain channel and so stay loyal to it. They do not watch other channels, they only surf and come back. Similarly tear-jerker television soaps are aimed at housewives and womenfolk. They have their own segmentation of Marketing. Similarly news channels, some telly watchers stick to a certain news channel and then stay loyal to it. This means to say all these channels have created their own niche markets having exclusive audiences for themselves alone.
Every product tries to have its own niche market segmentation. So products with similar features but with a slightly different unique selling proposition vie with each other to have a slice of their own niche market. Big companies who have various different products create different niche markets for each of their products. Not only these big corporate giants, even small companies having one product to their credit prefer to create a niche market of their own and accordingly architect ad campaign to retain their loyal customers. Sometimes these small companies having similar products compete with big corporate giants in establishing their niche markets, trying to get the larger piece of the niche market segmentation.
Saroj Ads, the famous ad agency in Chennai and having branches in Bengaluru, Hyderabad and New Delhi, has for the last 26 years has been architecting niche markets for several of its clients with its effective ad campaigns.