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Niche Market

Niche, noun: a distinct segment of a market. A niche market is built in the market and focus on a specific product. So the market niche defines the specific product features aimed at their satisfying specific needs in market, and price range, production quality, as well as the demographics that is to be impacted. (wikipedia, 2007) Niche market is a more narrowly defined group which basis on getting interests. In a nutshell, niche marketing is not just a single product promoted, also involves one part of a market by serving. (Kotle) A niche can be partitioned off a larger market in many different ways. It can consist of a certain population group, such as aged 25-35 of women; a certain…

Case Brief Trader Joes

Trader Joe’s, originally a local Californian chain store that offers uncommon groceries at low prices and that focus on a niche market of cultured and urbane clientele had a cautious growth during its first years and after it was acquired by a family that owned one of Germany’s most successful grocery chains expanded to 414 locations nationwide by 2013. With all that success, some grocery business competitors arose trying to compete. Even though experts estimate that the company has a higher return of investment than other supermarkets, there is a question if the company will be able to sustain its expansion without losing its charm effect. After reading the article there are some key strategic issues that must be addressed…