Thursday 22 September 2011

Niche Market

Niche- firm will concentrate on a specific section of market. e.g: e4/mtv rock

Advantages-
  • Unique
  • More specific advertising
  • Loyal customers
  • Higher prices benefit company
  • Tailor needs for target market
Disadvantages- 
  • higher price for customers
  • expensive supplies
  • less sales in comparison to mass
  • could be less income
  • high risk of failure
  • market can only grow so far
  • less demand

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