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A niche market is the subset of the market on which a specific product is focused. The market niche defines the product features aimed at satisfying specific market needs, as well as the
price A price is the (usually not negative) quantity of payment or compensation given by one party to another in return for goods or services. In some situations, the price of production has a different name. If the product is a "good" in the ...
range, production quality and the demographics that it is intended to target. It is also a small market segment. Sometimes, a product or service can be entirely designed to satisfy a niche market. Not every product can be defined by its market niche. The niche market is highly specialized, and aiming to survive among the competition from numerous super companies. Even established companies create products for different niches;
Hewlett-Packard The Hewlett-Packard Company, commonly shortened to Hewlett-Packard ( ) or HP, was an American multinational information technology company headquartered in Palo Alto, California. HP developed and provided a wide variety of hardware components ...
has all-in-one machines for printing, scanning and faxing targeted for the home office niche, while at the same time having separate machines with one of these functions for big businesses. While you may have explicit moving items effectively at the top of the priority list. Although you can build your chances of achievement by beginning with a niche market. In practice, product vendors and
trade Trade involves the transfer of goods and services from one person or entity to another, often in exchange for money. Economists refer to a system or network that allows trade as a market. An early form of trade, barter, saw the direct exc ...
business Business is the practice of making one's living or making money by producing or buying and selling products (such as goods and services). It is also "any activity or enterprise entered into for profit." Having a business name does not separ ...
es are commonly referred to as ''mainstream providers'' or ''narrow demographics niche market providers'' (colloquially shortened to just ''niche market providers''). Small
capital Capital may refer to: Common uses * Capital city, a municipality of primary status ** List of national capital cities * Capital letter, an upper-case letter Economics and social sciences * Capital (economics), the durable produced goods used fo ...
providers usually opt for a niche market with narrow demographics as a measure of increasing their financial gain margins. The final product quality (low or high) is not dependent on the price elasticity of demand, but the specific needs that the product is aimed to satisfy and, in some cases, aspects of
brand A brand is a name, term, design, symbol or any other feature that distinguishes one seller's good or service from those of other sellers. Brands are used in business, marketing, and advertising for recognition and, importantly, to create an ...
recognition (e.g. prestige, practicability, money saving, expensiveness, environmental conscience, or social status). When there are needs or desires with specific and even complex characteristics, the market niche requires specialized suppliers which are capable of meeting such expectations.


Niche audience

Unlike mass audiences, which represent a large number of people, a niche audience is an influential smaller audience. In television, technology and many industrial practices changed with the
post-network era The post-network era, also known as the post-broadcast era, is a concept that was popularized by Amanda D. Lotz. It denotes the period that followed an earlier network era, television's first institutional phase that started in the 1950s and ran ...
, and niche audiences are now in much greater control of what they watch. In this context of greater viewer control,
television network A television network or television broadcaster is a telecommunications network for distribution of television program content, where a central operation provides programming to many television stations or pay television providers. Until the mid ...
s and
production companies A production company, production house, production studio, or a production team is a studio that creates works in the fields of performing arts, new media art, film, television, radio, comics, interactive arts, video games, websites, music, and vi ...
are trying to discover ways to profit through new scheduling, new shows, and relying on syndication. This practice of "narrowcasting" also allows advertisers to have a more direct audience for their messages.Lotz, A. (2007), ''The Television will be revolutionized'', pg 180 With few exceptions, such as ''
American Idol ''American Idol'' is an American singing competition television series created by Simon Fuller, produced by Fremantle North America and 19 Entertainment, and distributed by Fremantle North America. It aired on Fox from June 11, 2002, to ...
'', the
Super Bowl The Super Bowl is the annual final playoff game of the National Football League (NFL) to determine the league champion. It has served as the final game of every NFL season since 1966, replacing the NFL Championship Game. Since 2022, the gam ...
and the
Olympics The modern Olympic Games or Olympics (french: link=no, Jeux olympiques) are the leading international sporting events featuring summer and winter sports competitions in which thousands of athletes from around the world participate in a vari ...
, it is not common for a substantial audience to watch a program at once. Still, networks do target particular demographics. Lifetime targets women and
MTV MTV (Originally an initialism of Music Television) is an American cable channel that launched on August 1, 1981. Based in New York City, it serves as the flagship property of the MTV Entertainment Group, part of Paramount Media Networks, a di ...
targets youth. Sports channels, for example, STAR Sports,
ESPN ESPN (originally an initialism for Entertainment and Sports Programming Network) is an American international basic cable sports channel owned by ESPN Inc., owned jointly by The Walt Disney Company (80%) and Hearst Communications (20%). The ...
, ESPN 2,
ESPNU ESPNU is an American multinational digital cable and satellite sports television channel owned by ESPN Inc., a joint venture between the Disney Media Networks division of The Walt Disney Company (which owns a controlling 80% stake) and the He ...
,
STAR Cricket Star Sports (formerly ESPN Star Sports) is a group of Indian multinational pay television sports channels owned by Disney Star (formerly ''Star India''), a subsidiary of The Walt Disney Company India. Previously a part of ESPN Star Sports w ...
, FS1, FS2 and
CBS Sports Network CBS Sports Network (a.k.a. CBSSN) is an American pay television network owned by the CBS Entertainment Group unit of Paramount Global. When it launched in 2002 as the National College Sports Network (later College Sports Television also known ...
, target the niche market of sports enthusiasts.


See also

*
Market segmentation In marketing, market segmentation is the process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers (known as ''segments'') based on some type of shared charact ...
* History of marketing *
Mass market The term "mass market" refers to a market for goods produced on a large scale for a significant number of end consumers. The mass market differs from the niche market in that the former focuses on consumers with a wide variety of backgrounds wi ...
* Marketing strategy


Notes


References

{{Authority control Market segmentation