Niche Marketing in Troubled Times
Wednesday, December 3rd, 2008During the Great Depression, my grandfather urged his children to be farmers because everybody has to eat. Today, we might say the same about food marketing.
The difference this time around is that we have many more choices. So it’s not enough just to produce food. Marketers are battling for share of stomach. This is where niche marketing comes in.
The auto industry is suffering, but Smart Cars and Mini Cooper sales are booming. They’ve found just the right niche in this environment — small, but cool cars that are fuel-efficient at a fairly reasonable price point.
According to today’s Wall Street Journal, (subscription required) another industry looking for a niche is the $25 billion appliance industry. With the housing slump, appliance sales are declining. Consumers aren’t likely to upgrade for new features in this economy. But they just might — to accommodate a lifestyle change. [more…]



