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Answer Posted / shwetabh
Niche marketing can be simply explained as: fulfilling the uncommon or radically distinctive needs of a segment. Identifying this need and segment, creating solution for this, communicating the solution to the identified segment and at last delivering it to them is known as niche marketing. Respected colleagues have this misconception about the premium pricing is one of the identifying factor of niche marketed products but the pricing is high because of the rule of low production incurs higher cost. Niche Marketed products are not always high as in case of hair dies which is targeted to only those people who are suffering with complex issues of having white hairs. Crack cream is another example of niche marketed product.. n so on
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