A niche market defines the
product features aimed at satisfying specific target audience. It is the act of
segmenting the market for a specific product and marketing intently to a small
subset of the market.
Small and medium scale
enterprises in Nigeria have resorted to niche marketing to provide a product or
service that focuses on specific client group’s needs. Managing Director of Nigeria’s
leading online marketplace Kaymu.com.ng,
Massimiliano Spalazzi has expounded on the concept of niche marketing and how
it trends SMEs in Nigeria
According to Spalazzi, niche
marketing provides an attractive opportunity for small and medium scale enterprises
to compete against the scale economies that mass marketing competitors are able
to achieve. As opposed to mass marketing, niche marketing encourages business
owners to stake out unique market spots especially online.
Niche markets consist of
groups of customers who have a similar demographic, buying behavior and
lifestyle characteristics. Understanding target customer segments is a crucial
factor in determining whether an operation has the resources, interest and
business elements necessary to meet the needs of the prospective consumers.
“It is no doubt the internet
is here to stay and has brought with it amazing opportunities like marketing a
niche product to a wider audience. Small scale business owners on Kaymu.com.ng are using the online
marketplace and leveraging online platforms to grab the attention of their
target audience, and obtain a wider audience reach while taking full advantages
of the marketing opportunities provided by the online marketplace”, Spalazzi
stated.
Many Nigerians appreciate the
convenience and speed of online shopping and SMEs who operate niche markets
make use of online marketplace to grow the size and reach of their targeted
operations.
“Shopping has never been simpler as
individuals who seek a specific niche product can search for variety on the Kaymu platform at the click of a
button. Some examples of fast selling niche products on Kaymu.com.ng are weight-loss
products, fish food and natural health products”, he added.
Specializing in niche marketing allows SMEs
enjoy a competitive advantage over mass marketers on the online marketplace.
This is because online shoppers shop majorly by category. A niche marketer
owning a shop on the Kaymu is
easily identified by the buyer when the result of their filtered search comes
up.
In addition offering an
innovative product provides the ‘all in one’ solution to meet client’s demands
that mass marketers who offer a larger selections lack.
About Kaymu.com.ng
Kaymu is Nigeria’s #1
safest online market place where buyers and sellers can meet and make the best
deals for used or new products, such as smart phones, computers, fashion and
clothing, home appliances for the cheapest price thanks to the fixed or auction
pricing system. Visit www.kaymu.com.ng to explore its offerings.
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