0
   

expansion of the market niche

 
 
Reply Thu 15 Jul, 2010 10:43 am
Please look at this English text ...

expansion of the market niche to include a broader spectrum of consumers will increase profits

what does market niche means ?

I understand niche skills = rare skills

but I'm uncomfortable with market niche ...what is it ? what the sentence trying to say ?
  • Topic Stats
  • Top Replies
  • Link to this Topic
Type: Question • Score: 0 • Views: 1,536 • Replies: 5
No top replies

 
PUNKEY
 
  1  
Reply Thu 15 Jul, 2010 12:55 pm
'market niche' is a selling idiom.

It speaks to an audience who will most likely buy your product. For example, Skechers Shape-Up sneakers would be most likely bought by people under 30 or young mothers. The company would now hope to sell that product to people over 30, so they might change the product slightly so that market niche would be larger.

0 Replies
 
mm25075
 
  1  
Reply Thu 15 Jul, 2010 12:58 pm
"market" in this sense is a term used in business to signify that the specific demograpahic of people who tend to use/prefer/buy products and services the company sells and "targets" them through advertising methods to increase company profitability by making the most use of their advertising dollar.

Broadening or expanding the market means the company is looking to pull in a higher percentage of customers from the population
0 Replies
 
PUNKEY
 
  1  
Reply Thu 15 Jul, 2010 03:19 pm
. . . and 'niche' means something that fits just right.

roger
 
  1  
Reply Thu 15 Jul, 2010 04:06 pm
@PUNKEY,
Yes. A small corner of a much larger market. A good niche can yield a high profit from a small section of a market.
0 Replies
 
tintin-and-calculus
 
  1  
Reply Thu 15 Jul, 2010 08:15 pm
it seems to me market niche = marketing strategies.

so , company is expanding their marketing strategies to pull more customer.
I think , I 'm correct now.
0 Replies
 
 

Related Topics

deal - Question by WBYeats
Let pupils abandon spelling rules, says academic - Discussion by Robert Gentel
Please, I need help. - Question by imsak
Is this sentence grammatically correct? - Question by Sydney-Strock
"come from" - Question by mcook
concentrated - Question by WBYeats
 
  1. Forums
  2. » expansion of the market niche
Copyright © 2024 MadLab, LLC :: Terms of Service :: Privacy Policy :: Page generated in 0.07 seconds on 04/24/2024 at 01:05:30