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Niche markets

Market niches are segments or audiences whose particular needs are little explored or non-existent. It is a portion of a consumer market, in which buyers can be clearly identified by their specific needs, and which is generally under- or under-exploited commercially. The strategy of taking advantage of niches is precisely in identifying the segmentation bases that, when explored, represent the differential or competitive advantage to the company (or person).

Occupying small market niches, small and medium companies develop resources to maintain a healthy position in the market through continuous perseverance and dedication to serving their consumers better than other companies, by seeking and understanding the needs of their audience.

To develop a niche strategy, it is necessary to have an effective market opportunity and the company's exploratory potential, as well as the effective performance in order to take advantage of it in the best possible way. The existence of market opportunities arises from the marketing environment, the characteristics of customers, or the actions (or absence) of competitors.

The company's necessary potential requires from its ability to identify opportunities to the availability of resources and administrative, technological, productive, marketing, financial and other capabilities that enable it to explore such opportunities. In this way, the niche strategy will depend on the effective performance of the company, in order to adjust itself adequately to the consumer-client structured on solid bases in business planning and market positioning. This is consistent with the reality of some local bands, which are very successful on radio.

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