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Niche marketing means marketing some product or service to a select group of people sharing a common interest. It is opposite to general marketing, where the customers are heterogeneous and they may not have anything in common. Besides having something in common, the target audiences in a niche market usually hang out at the same location. They also tend to buy the same publications - newspapers, magazines, ezines, newsletters, television shows, radio stations, etc.

Many companies stress on select niche audiences in their marketing strategy. They carefully select and target specific segments in the market to maximize the effectiveness of their programs. Many a times, they even select different niches for different product groups.

Companies prefer niche marketing, as it can be cost-effective. There is absolutely no use spending money on marketing a product or a service to people who do not use it. Therefore, it is always better to pinpoint the exact target customers and market it to them in a way that suits them. Such selective approach would help cut down the marketing budget and result in maximum effectiveness.

Though niche marketing could be beneficial, it needs careful handling. It is important to meet the unique demands of the particular group of customers. The features offered must have special appeal to the niche market. Therefore, it needs sufficient research to find out the unique needs of the target customers before delivering the product or service to them. There is also the need of understanding the pulse of the target group. Success of niche market depends much on effective communication with the group.

Niche marketing has emerged in a big way in Internet marketing as well. Online marketers can offer their products and services to select group of customers through their websites. Many websites provide useful information on developing a niche marketing strategy. Besides products or services, online niche marketing can be useful even in affiliate programs or direct sales.

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