2. Content
Introduction What is Market ??
Niche Market
Niche Audience
Consumer Perception
Statistics
Source & Reference
3. What is market ??
A market is one of many varieties of systems, institutions, procedures, social
relations andinfrastructures whereby parties engage in exchange. While parties
may exchange goods and services by barter, most markets rely on sellers offering
their goods or services (including labor) in exchange formoney from buyers. It
can be said that a market is the process by which the prices of goods and
services are established.
For a market to be competitive, there must be more than a single buyer or seller.
It has been suggested that two people may trade, but it takes at least three
persons to have a market, so that there is competition on at least one of its two
sides. However, competitive markets rely on much larger numbers of both
buyers and sellers. A market with single seller and multiple buyers is a monopoly.
A market with a single buyer and multiple sellers is a monopsony. These are the
extremes of imperfect competition.
4. A niche market is the subset of the market on which a specific product is focusing. So the
market niche defines the specific product features aimed at satisfying specific market needs, as
well as the price range, production quality and the demographics that is intended to impact. It is
also a small market segment. For example, sports channels like STAR Sports, ESPN, STAR
Cricket, and Fox target a niche of sports lovers.
5. Niche audience
Technology and many industrial practices changed
with the post-network era. There is a new drive for
niche audiences because audiences are now in
much greater control of what they watch. It is very
rare to have a substantial audience watch a
program at once, with few exceptions such
as Worldcup Daily soap and the Olympics. Still,
networks do target particular demographics. For
example, Lifetime targets women and MTV targets
youth. In this context of greater viewer control,
networks and production companies are trying to
discover ways to profit through new scheduling,
new shows . This practice of "narrowcasting" also
allows advertisers to have a more direct audience
for their messages.
In the fashion industry a growing trend is to have
shop-in-shop setups where big stores promote
niche brands inside to draw in new demographic
6. Consumers Perception Towards Niche Market …
Earlier When it was about shopping we had Limited costomers, limited shops
& Limited Products . But now The Scenario is totally changed Endless
Shopping Unlimited Products & markets Growing & Growing …
When its about multiple product shopping then Niche market can’t be
considerd as dis type of market purely targets on one particular product.
For Example :- If I want to shop Different products like clothing accessories
some electronics item then I find APSARA ROAD as the best option .
Consumers find such kind of market area much more comfortable when they
go shopping for a particular product .
For Example – If have to shop some jewellery item I would prefer going
JAIN BAZZAR .
7. Statistics !!
48% of people goes to a
super market, 25% goes to same old
traditional stores, these persons are either
from backward area or some semi urban
areas. 21% peoples goes to malls
forshopping, 6% go for Eshopping …
Facts state that
72% of consumer go for multiple shopping
and they have a list of products which they
want to buy.*
19% of consumer shop without any planning
Only 09% person prefer particular product
shopping that too mostly during some
occasions
Stats From
Lucknow, Ahemdabad, and Pune
Source Business Today
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8. Reference:-
Journals: - Business World, Business Today.
Website: - www.wikipedia.com
www.google.com
Book: - Principle of Management
