利基市场VS主流市场 Niche Market vs Mainstream Market
A niche market is a focused, targetable portion of a market. Niche markets tend to be small but well defined and specific segments of the population. The market segmentation can depend on the product being sold and can vary based on the targeted audience based on price, quality or differentiation strategies. Since the targeted audiences are usually small and well off, even though there is a specific portion, the profit margins are on the high end. Niche markets do not exist but are made by entrepreneurs, identifying the needs and requirements which are not being met and then aiming to satisfy these with products or services.
In a Mainstream Market, products and services appeal to a broader spectrum of the society, and the products and services are readily available to the general public. (Business Dictionary, n.d.).
In niche marketing, the company aims to sell to specific people and targets their promotional campaign specifically to the needs of people not being met by mainstream and develops products and services which can be specifically customized and tailored to meet the needs of these individuals, resulting in a strong brand image. However low sales volumes are yielded in this
Mainstream Marketing targets all the individuals and profits generated depend upon the quantity of products sold. The company tries to accommodate all the desires of the entire market into one product type. Another advantage being that the producer can close down the market for other competitors. However different marketing mix strategies need to be implemented to reach target audiences as well as multiple products need to be produced. (Rangkuti, 2007)
Four successful niche market businesses in United Arab Emirates (UAE)
Rolls Royce Motors
Owning a Rolls Royce is the ultimate show of wealth and claiming that a person has made it big. Due to the immense oil wealth and hugely successful businesses present in UAE, and the need to stand out from others, this car brand's major markets include UAE. The highly levels of craftsmanship, use of latest technologies and being hand built as well as unlimited customization opportunity which caters to all the desires and needs demanded by customers attracts the rich and wealthy to this brand. The fact that not everybody can purchase this car, and special limited edition models being launched ensure that brand loyalty and image is strong. The opening of the world's biggest showroom in Abu Dhabi has also helped to increase the custome