Niche marketing
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This helps to get basic knowledge about the Niche Marketing with examples.Describes the advantages and disadvantages of the same.Understand the concept with suitable examples.
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1. The document provides five common sense steps for stronger public relations for hotels, as outlined by John Hogan.
2. The five steps are: be proud as an expert, make a focused effort to become a local news source, prepare genuine press releases, work positively with media, and recognize social media as a major player.
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Niche marketing
- 3. Concentrating all marketing efforts on a small but specific well defined segment of the population. Niches do not ‘exist’ but are ‘created’. It is an advertising strategy that focuses on a unique target market.
- 4. The customers in the niche have a distinctive set of needs. They are prepared to pay a premium price to the company that best satisfies their needs. The niche has adequate size, profitability and growth potential.
- 5. Less competition. Brand loyalty. Cheaper Saving on your marketing cost. Personalisation.
- 6. High risk. Limited growth. High production cost.