What Is Niche Marketing?Let me illustrate.
Imagine that you live in New York city.
One day, researchers discovered a gold mine at a certain location X right in the
heart of New York.
Everyone starts to go to location X and try to dig for gold.
Only one problem though.
They didn't have any spades to dig!
Coincidentally, you happen to run a DIY shop and you have up to 500 spades in
stock.
Not much, but then instead of charging $2, you can now charge up to $100 for
each one.
And everyone willingly pays for it because they want to dig for gold.
This is niche marketing in action. Marketing the spades (niche product) to a
select group of buyers (niche market).
Price: $1.25
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