One strategic decision any company needs to take is whether to target a niche market, or to cater to a segment of a market, or to position itself as a mass marketer. If the company believes in a high volume low margin game, mass marketing would be ideal. If the company believes in the philosophy of reasonable volumes and fair margins, targeting a market segment would be fine. However, if the company believes in catering to a specialized market and aiming at high margins, the strategy of Niche Marketing would be suitable. A niche market allows premium pricing and a focused approach to the small customer segment. Moreover, an ideal niche market would also offer the added benefit of few operating competitors. Competition, Technology and Lifestyle would be the key drivers for emergence of new niche markets. However, the search for a profitable niche in any industry/market would be a continuous process, be it a large company or a small organization. Against this backdrop, this book, in its first section, discusses in detail the concept of Niche Marketing. The next section of the book focuses on the experiences of a few industry sectors under Niche Marketing. It is hoped that this book would be of immense value to the marketing professionals, teachers, researchers and students as a handbook on strategy.
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