What is niche marketing?
It's a very specific form of marketing that focuses on something or someone. You can have many niches, and they're different from the demographics, which talk about age groups, genders, interests, etc. Niche markets are a lot easier to reach out to as there are fewer people involved.
Many businesses have been created around it as it tends to be more effective than broad-marketing schemes. In fact, studying your target market is so important in finding a niche that somebody would want to spend money on that advertising agencies charge you extra for doing this work!
Here are some examples:
A client wants her business to appear more professional and has the agency find her a niche market of people who want to establish their businesses as more professional.
A client wants his business to appear more attractive, so he has the agency find him a niche market of single parents with an average household income of $60,000 or higher.
As you can see, it's important for a business owner to know what they want their business to appeal to so that they can work on finding the perfect target audience. A good way of going about this is by creating a picture of your ideal customer and learning all there is about them. This way, you'll have a better chance of reaching them successfully!
Some other examples include:
Weight Loss Programs for Women Over 40 Years Old
The producers of "Gossip Girl" are looking for their target audience by focusing on wealthy teenage girls.
Department stores advertize to young married couples with young children who are in the market for new cars.