Are Niche Markets Opportunities for Growth?


Essay, 2011

4 Pages, Grade: A


Excerpt

Articles Used:

1 http://ag.arizona.edu/AREC/wemc/nichemarkets/01whatarenichemarkets.pdf
2 http://ufdcimages.uflib.ufl.edu/CA/00/40/02/13/00001/PDF.pdf
3 http://sbaer.uca.edu/research/icsb/2009/paper1.pdf

Darmar pursues a Niche strategy by supplying small retail outlets with Indonesian artifacts. This is a niche market because the small retail outlets find it difficult to import the artifacts into United States from Indonesia and the artifacts also are difficult to be produced in large numbers for wholesalers. This provides Darmar with a market where there are no competitors hence the potential to supply the artifacts to small retailers. Essentially, the business is advantaged because good relationships have been established by the designers of the artifacts who are mostly people her family is close with. Darmar has it as a targeted part of the market where she understands the needs of both his customers and suppliers. This is illustrated in the ability to make the designers create what her market requires.

An article written by Wong-MingJi (1999), niche markets are not addressed in detail by the mainstream providers hence it is easy to focus on a specific client’s group hence ability to satisfy them. This defines the kind of products that you offer since competition is low or unavailable. Designs are customer oriented since the needs of the customers determines what to be targeted in the market. Darmar has completely identified the needs of her customers and how difficult it is for them to successfully access the resources to use in their businesses. The larger wholesalers find it difficult to mobilize the Indonesians to achieve mass production of the

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Excerpt out of 4 pages

Details

Title
Are Niche Markets Opportunities for Growth?
College
University of Kent
Grade
A
Author
Year
2011
Pages
4
Catalog Number
V267609
ISBN (eBook)
9783656581833
ISBN (Book)
9783656580140
File size
422 KB
Language
English
Tags
niche, markets, opportunities, growth
Quote paper
Peter Maine (Author), 2011, Are Niche Markets Opportunities for Growth?, Munich, GRIN Verlag, https://www.grin.com/document/267609

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