Niche marketing refers to the submarket where specific products are marketed. More specifically niche marketing refers to narrow market segment where products with special offering survives. ESPN, Star Sports, Fox Sports, Star Cricket are sports channels that focus on niche of sports enthusiasts. Niche marketing basically works with a concept of `Big fish in small pond. By targeting a niche market, the marketer can serve in more specialized manner and can create a situation of monopoly. The market notices the difference in the value of services provided by a niche marketer and generates loyalty. Now the companies are realizing the power of niche marketing and embracing it readily.
The purpose of this paper is to present a concise status of niche marketing and thereby provide a basis for marketers and research persons.
The paper is a conceptual research work.
The reasons for increasing practice of niche marketing as a strategy by marketers are being identified. The current status of this strategy is also being analysed in the work.
Loyalty, monopoly, narrow market segment, niche marketing, submarket
