By Lucy Morris
Photography by Lanewood Studio
The Business Dictionary defines niche marketing as concentrating all efforts on a small but specific and well-defined segment of the population. Not necessarily a small market, a niche involves a specific target audience served by a specialized offering. Niches do not “exist” but are created by identifying needs or wants that are being addressed poorly or not at all, and by developing and delivering goods or services to satisfy them.
The trick to capitalizing on a niche market is to find or develop an emerging business where consumers can be easily reached and no other vendor or supplier has entered the market. With the advent of Ecommerce, niche businesses can now reach a smaller market segment across vast geographical areas easier and with fewer expenses than before.
Niche businesses are usually characterized by high-quality products and services offered by experts who understand their customers’ needs.
Although impossible to include the many companies across the area who have found their niche, what follows are five companies that have built successful businesses based on their ability to provide exceptional products or services to very specific target markets.