Niche Market Strategy Research Articles

Fashion niche market strategies: a systematic literature review

PurposeThis study systematically explores the literature on global niche market strategies within the fashion industry to allow the mapping of niche practices and examine the benefits, success factors and characteristics of a niche strategy. Additionally, it identifies data gaps and necessitates a detailed examination to uncover areas with inadequate information.Design/methodology/approachThis study utilized the Preferred Reporting Items for Systematic Reviews and Meta-Analysis (PRISMA 2020) method for systematic review and included 70 studies to analyze their findings.FindingsThis systematic literature review pinpoints niche strategies shaping the future of the fashion industry while developing sectors of the textile and apparel industry, fashion technology, fashion retail business, fashion media and communication, luxury fashion, sustainable fashion, adaptive clothing and transgender fashion within the fashion supply chain. A niche market strategy utilizes both pull and push marketing in the fashion industry. Scholarly literature commonly underscores the understanding of the consumer as a pivotal factor in the success of fashion niche market strategy.Practical implicationsThis review offers a comprehensive overview of fashion niche strategy practices, aiming to inspire fashion industry professionals. It also serves as a guide for fashion industry professionals, summarizing best practices across various fashion industry sectors to help develop effective niche strategy competencies for firms.Originality/valueThis review thoroughly analyzes niche strategy implementation in the fashion industry, presenting an important resource for individuals new to this sector. It highlights the significance of niche strategies in improving the comprehension of emerging participants in the fashion business.

Optimal management plans and initiatives for the valorization and safeguarding of local breeds: a mathematical programming approach

In this study, a parametric programming model was developed in order to deliver optimal management plans for various types of farms rearing endangered Greek sheep breeds under three distinct scenarios. The first scenario investigated the optimal internal organization of farms (i.e., management practices and resource allocation strategies that increase profitability of farms) under current market conditions (e.g., product prices) without, however, considering subsidies and compensations. The second assessed the impact of an agri-environmental support scheme on farm optimal structure and socioeconomic performance. The third investigated the effects of integrating farms into value chains and niche markets where premium prices prevail. For this purpose, a questionnaire survey was conducted in the wider region of Epirus and Thessaly, collecting management data from 16 farms rearing (i) Kalaritiko, (ii) Orino Epiru and (iii) Katsika rare sheep breeds. The main finding of this study was that the optimal internal organization of farms is essential for their self-reliance and viability. Therefore, it should be the basis in the designing of any initiative aimed at the preservation and valorization of local breeds. Furthermore, the analysis showed that a niche marketing strategy (i.e., a premium price strategy) can have a broader positive impact on farms structure and socioeconomic performance, particularly those engaged in cheese production, compared to an agri-environmental scheme. However, due to the fact that both initiatives possess limitations that may render them inefficient under specific external conditions, the development of an integrated incentive mechanism, which will combine both policy schemes and market-based initiatives, appeared to be a more effective strategy for the long-term viability of farms.

How to Exploit a Market Niche by Responsivity?

When people purchase goods or services, their experiences can meet, exceed, or fall short of their expectations. This process of convergence creates a diverse market, where some customer's expectations naturally align with the provided quality. The customers whose expectations converge to the quality offered are more likely to remain loyal to the firm in the long run. The customers whose beliefs diverge face a sequence of satisfying and dissatisfying experiences, which makes them likely to resign from using the product. This convergence can be facilitated by the firm's responsivity, which is costly.In this paper, we explore how responsivity can present an opportunity for a new market entrant to attract potentially loyal customers in order to deploy a niche left by a first-mover without causing costly competition. Responsivity acts as a niche marketing strategy, and we find how to use it in the optimal way.

When Central Asian Prefers Langkawi Island: Understanding Luxury Travel Motivations and Behaviour

This study investigates luxury tourists’ outbound travel motivation and how it influences their tourism destination selection, satisfaction, and future revisit intention. Two hundred and fifty-six (256) respondents participated in this study. The online survey link was shared using social media platforms where the snowball technique spread the questionnaire links to the respondents that fit the study's inclusion. Partial-Least Square-Structural Equation Modelling (PLS-SEM) was used to test and confirm the study model and hypotheses. Combining two theoretical underpinnings, Maslow’s theory of motivation and push and pull motivations theory, this study’s findings depict two major antecedents of luxury-driven experiences: social value and destination uniqueness. The results demonstrate that luxury tourists’ push and pull travel motivation predictors emerged as significant antecedents for their destination satisfaction and willingness to return. Furthermore, the mediating effect confirms that satisfaction plays a significant mediating role in the pull motivation and revisit intention inter-relationship. The findings of this study provide empirical support for understanding the psychological aspects of luxury travellers while offering insights for destination managers to develop niche marketing strategies for attracting luxury tourists. The present research also provides luxury tourism destination managers with a clear comprehension of the underlying mechanism of the luxury tourists’ loyalty generation process.

PSXI-15 Estimating Vegetation Index for Outdoor Free-Range Pig Production Using Yolo

Abstract In the United States, outdoor pig production is steadily increasing thanks to the niche market strategy for small farmers, consumer antipathy to factory farm products, and the trend of eco-friendly and animal welfare, and research on this is continuing. One of the advantages of outdoor pig production is that farms can be run with small capital, and one of the disadvantages is that cover crops can be devastated due to the burrowing nature of pigs, resulting in underground water being overnourished if management is neglected. Recent scientific advances have made it possible to take images from unmanned aerial vehicles. Utilizing this technology to ascertain the situation of grazing land in outdoor grazing pig production will greatly help farmers maintain pastures at the recommended rate without leaving pastures until they are irreparable. The objective of this study was to quantitatively estimate the level of grazing area damage in outdoor free-range pig production using an UAV with an RGB image sensor. Ten corn field images were captured by an UAV over a period of approximately two weeks, during which gestating sows were allowed to graze freely on the corn field measuring 100×50 m2. The images were corrected to a bird's-eye view, and then divided into 32 segments and sequentially inputted into the YOLOv4 detector to detect the corn images according to their condition. The 43 raw training images selected randomly out of 320 segmented images, each with different degrees of corn devastation, were flipped to create 86 images, and then these images were further augmented by rotating them in 5-degree increments to create a total of 6,192 images. The increased 6,192 images are further augmented by applying three random color transformations to each image, resulting in a total of 24,768 datasets. The system accumulates the number and area of the detected labels to calculate the corn occupancy rate. The occupancy rate of corn in the field was estimated efficiently using YOLO. As of the first day of observation (day 2), it was evident that almost all the corn had disappeared by the ninth day. When grazing 20 sows in a 50×100 m2 cornfield (250 m2/sow), it appears that the animals should be rotated to other grazing areas to protect the cover crop after at least five days. In agricultural technology, most of the research using machine and deep learning is related to the detection of fruits and pests, and research on other application fields is needed. In addition, large-scale image data collected by experts in the field are required as training data to apply deep learning. If data required for deep learning is insufficient, a large number of data augmentation is required.

Applying a data-driven niche market strategy to UK higher education

ABSTRACT This paper argues that a data-driven, niche-focused approach to strategy development will assist Higher Education Institutions to direct their financial resources to greater effect by providing a more tailored service to students, therefore, increasing student satisfaction and creating brand loyalty. This approach will give institutions greater stability and prosperity in a constantly changing market. It is, however, the cultural risks which remain the biggest barrier to trying this approach in the UK and this paper aims to open the debate.

Marketing Mix Strategy and Business Growth In 5 Star Hotels in Nairobi City County, Kenya: A Case of Hilton Hotel

Marketing strategy is the fundamental theme of the entire company, be it a small business or a well-known multinational corporation. The task and task of the organization is to formulate, establish and implement a coherent and elegant marketing strategy to promote its business development to attract the right types of customers and allocate resources for business growth. It does this by using profitability as a measure of business growth. Largely assessed financial efficiency. This search has led to increased competition in the Kenyan hotel industry. This has resulted in hotels developing lean marketing strategies to maintain their relevance in the extremely aggressive Kenyan hotel market. The1main1goals1for1this1findings1is1to1find1out the impacts of marketing mix on business growth in 51star1hotels1in1Nairobi1City1County1Kenya.1A1case1of1Hilton hotel. This study aims to test the degree of product differentiation in marketing strategy: the impact of price marketing strategy, niche marketing strategy, and advertising marketing strategy on profitability, market share, Hilton Kenya consumer service and sales quantity, effects of product differentiation strategy, pricing strategy, placement strategy and advertising strategy on the earnings, market values, number of customers, customer service and volume. Nairobi sales department. Research will rely on the Promotion Mix Theory, Marketing Mix Model, and Marketing Impact and Continuity Model in order to provide a more proper knowledge of the marketing mix and business growth. The study population includes 5-star hotels in Nairobi City County, Kenya, including Sankara Nairobi, Dusit D2 Nairobi, Villa Rosa Kempinski, Sarova Stanley, and Hilton Nairobi. 5 Star Hotels in Nairobi, Kenya The target group will be 84 employees outside of the Hilton hotel headquarters in Nairobi. A stratified random sample is utilized to sample 42 employees at the headquarters, who make up 50% of the total population be to choose a delegate and unbiased sample in order to improve the reliability and validity of the survey results. The questionnaire is used as a data collection tool. A questionnaire will be sent to the research director to check its effectiveness and a pilot study will be undertaken to improve the reliability of the instrument. The quantitative evaluation of the data is carried out with the software SPSS Version 21 and is represented by applying tables of statistical distribution, charts, and pie charts for easy comprehensive. On the other hand, analyzing the qualitative data through content analysis, the research will help various stakeholders of the Hilton hotels understand the importance of the marketing mix and its impact on the business growth of the organization and provide references for forthcoming researchers and academics.

Niche Marketing Strategies: The Role of Special-Purpose Transportation Efforts in Attracting and Retaining Transit Users

This study evaluates the use of public transit niche strategies as an alternative marketing strategy designed to attract and retain new public transit riders. Four niche efforts, a university football shuttle, professional football shuttle, summer metropolitan park shuttle, and suburban subscription vanpool are the focus of the investigation. A total of 738 intercepts provide the data for the research. The researchers conclude that niche marketing efforts are an effective strategy, and therefore should be an important tool in the public transit industry’s efforts to attract and retain new riders in order to offset the prolonged decline in public transit market share.

Business Models and Strategy Configurations in Small and Medium Enterprises

We adopt a configurational approach for exploring how Small and Medium Enterprises combine business models design themes and competitive strategies with each other. Analyzing a sample of 96 manufacturing firms, we identified four equifinal configurations leading to high performance and five equifinal configurations associated with low performance. Three out of four high performing configurations combine at least one of the four business models design themes and a competitive strategy, while the fourth configuration relies only on a firm’s competitive strategy. Configurations of low performing SMEs, instead, rely on the absence of the differentiation strategy, while the niche market strategy can be present or absent according to the different combinations with the business model design themes. Our study contributes to research on business models and to debate about the relationship between business model and strategy.

Origin artisan coffee: growth challenges faced by a niche brand in South Africa

Learning outcomes Identify the advantages and disadvantages of being first-to-market with a new product in a new environment. Explain the differences between business-to-business (B2B) and B2C markets, how they are interconnected in the speciality consumer good category and the challenges of developing a balanced strategy for both. Assess the competitive positions of different market players within both B2B and B2C. Analyse the role of brand in a niche market and how brand perception influences consumer behaviour. Identify and assess the different strategies for growth in an evolving niche market. Case overview/synopsis Origin Coffee is an artisan coffee roaster in South Africa grappling with rising competition, evolving consumer tastes and brand management concerns. As an early entrant, Origin largely created the niche market for speciality coffee across the country as both a retail coffee shop and a wholesale supplier to independent shops and businesses. This case follows founder Joel Singer 15 years later, in August 2020, as he contemplates how to scale the business, which has cultivated a brand synonymous with quality and excellence. Repeated efforts to expand the Origin footprint have met with disappointment and the business is still operating exclusively from its original roastery-café in Cape Town. Yet, the customer perception is that Origin is an industry giant – an established player that has outgrown its plucky upstart status. Origin also faces an increasingly crowded competitive landscape of local artisan roasters and larger chains. The case showcases the power of entrepreneurial innovation to cultivate a new niche market, as well as the risks of playing in a market that is very narrow and immature. Students are left to determine what Origin’s place in the future of South African coffee can and should be. Complexity academic level This case is appropriate for students enrolled in postgraduate programmes such as Master of Business Administration and Executive Education programmes. Although the case learnings are transferrable, this case will be particularly useful to students with interests in entrepreneurship, B2B and B2C market strategies and niche market strategy. Supplementary materials Teaching Notes are available for educators only. Subject code CSS 11: Strategy.

RESEARCH ON NICHE MARKETING STRATEGY OF STUDY ABROAD MARKET IN POST-COVID 19: CASE OF YUNNAN HH OVERSEAS EDUCATION, CHINA

The COVID-19 outbreak in 2020 has brought unprecedented challenges to the overseas education industry. As a small company, Yunnan HH Overseas Education is still in the start-up and development period of the enterprise. Faced with the fierce competition in the overseas study market and the influence of COVID-19, overseas study agencies should make strategic goals suitable for the development of the company according to the actual situation and external environment if they want to achieve sustainable development. Based on STP marketing theory, Niche marketing strategy, PEST analysis, Porter's five forces model and other modern marketing theories, this paper makes a comprehensive analysis of the internal and external operating environment of Yunnan HH Overseas Education, subdivides the overseas market, and uses the combination of theory and practice to lay a foundation for the company to develop targeted marketing solutions. It also provides some reference for the survival and development of similar small overseas study companies in China.

New perspectives in the Italian property market: the funeral sector

PurposeThe purpose of this paper is to investigate a particular type of property market, that of funeral homes, of which little is known, despite the fact that it is an expanding market, reflecting a social and cultural change in Italy.Design/methodology/approachA qualitative analysis of the funeral property market was carried out. Information and data were collected from funeral companies, with reference to their market strategy, and from institutional investors, in order to gauge their knowledge of that specific sector and their willingness to invest in this specific property type. The instruments used were questionnaires, telephone interviews and on-site visits.FindingsThe results of this study suggest that Italian funeral companies identified a new property market, responding to the demands of a changing social context, especially in Northern Italy. Limited experience in the management of this asset and the lack of a clear and uniform legislative regulation at the national level appear to be among the main difficulties. From the investors’ point of view, the main problems in investing in this property were the lack of adequate knowledge in the sector and moral qualms about the specific type of assets.Research limitations/implicationsThe small sample restricts generalization beyond the companies that participated in the research. Furthermore, the research only focused on the private sector related to niche market strategy and property investments.Practical implicationsThe paper could raise awareness of a specific and not well-known property market among the real estate operators.Originality/valueThe originality of the analysis lies in investigating a relevant phenomenon from the social point of view that has been little or not at all addressed from the point of view of real estate, particularly in Italy.

Health foods in India-following a niche marketing strategy

Health foods in India-following a niche marketing strategy

How Online Reviews Influence Customer Agility and Product Innovation? Evidences from Mobile App

This study examines new product development based on online customer reviews. We develop a tension perspective to reconcile inconsistencies in prior literature and examine relationships among online review volume, new product performance, and customer agility, which describes the effectiveness of a product developer’s response to customers’ demands. We argue that because large-volume reviews are valuable but difficult to process, review volume has a curvilinear relationship with customer agility. This relationship is moderated by the producer’s number of sibling products and niche marketing strategy. Furthermore, because making effective responses to demands raises customers’ willingness to buy and product development costs simultaneously, customer agility has a curvilinear relationship with product innovation performance. We test our model using a large mobile app dataset and find support for our hypotheses. Our findings of the curvilinear relationships and moderators provide nuanced explanations on how big data of online reviews facilitate product innovation.

Niche Marketing Strategy Framework for SMEs: A Conceptual Framework

As the research shows that small and medium enterprises are comprising of more than 90% of the business around the world. In the developing countries SMEs contribute to the GDP, poverty alleviation, creating jobs, and have many other benefits which are crucial. According to their significance to country side, human side, SMEs needs to be successful to improve the both sides. The niche marketing strategy is one of the most successful strategy applied by different companies around the world. And those who are using the strategy are enjoying the success of their organizations. For SMEs the niche marketing strategy is beneficial because the owner or manger can build a good relation with the consumers and suppliers. A good relationship is necessary for sale purpose and for reputation building.

The Niche Marketing Strategy Constructs (Elements) and Its Characteristics - A Review of the Relevant Literature

This paper is based on the premise that it is important to understand what niche marketing is; what its elements are, and also to know about the characteristics of niche marketing strategy. Essentials elements for a niche marketing strategy include segmentation, and positioning. The main purpose of the niche marketing is profitability, adherence to the marketing concept, relationship marketing practices, and building company reputation based on long term mutual benefit with its customers. Small firm must incorporate these ideas and become guerrilla marketers to compete successfully in markets dominated by much larger companies. To overcome these problems and potentially make effective use of niche marketing as a marketing strategy, the literature needs to advance a common definition, comprehensible elements, and most certainly common characteristics.

Regulatory Compliance Costs on International Banks in Turkey

<p>The Turkish government set a policy to become a regional financial center in 2007. This policy involved encouraging international banks to enter Turkey and take a more prominent role in the Turkish banking industry. Since then the progress has been slow to achieve this policy objective. The primary indicator of being a financial center is to have the presence of international banks. Even though there are many representative offices in Turkey, few of them changed their status to subsidiary or branch to this day. On the contrary, some international banks announced that they would downsize their operations. Representative offices have lower investment and compliance cost than that of branches and subsidiaries. Banking regulations in Turkey does not differentiate much by type, operations and size. Also international banks have to comply their head office rules in line with regulators in their home countries. In this article, we focus on the regulatory compliance costs on international banks to open branches and to establish subsidiaries with niche market strategy in Turkey. We argue that regulatory compliance costs play a major role on the reluctance of international banks’ lack of enthusiasm.</p>

Creating Brand Success through a Niche Marketing Strategy: A Case Study of ‘LuvIt’ Brand of Chocolates

The case analyses the niche marketing strategy adopted by Global Consumer Products Ltd. who have entered the Indian chocolate industry by launching their brand of chocolates – LuvIt. Key strategic decisions play a very vital role at the initial phase of any new product. Initial investment, scalability and sustainability are also important aspects for brand success in the fiercely competitive market. The objective of this case study is to present the niche marketing strategies through the marketing decision alternatives – 4P's of the company for discussion and discuss the asset-light model of manufacturing adopted by the company.

Expanding the Islamic Financial Services Frontier: Lessons from Islamic Finance Sector in Kenya

Expanding the Islamic Financial Services Frontier: Lessons from Islamic Finance Sector in Kenya Dr. Islam Mohamed Salim Abstract Kenya is a Muslim minority country in which Islamic banking and finance has assumed great importance in recent years. From a humble beginning in the form of Islamic windows with limited products and services, the concept has gradually enlarged to encompass full-fledged Islamic banks. This paper describes the historical development and overview of the Islamic Financial Institutions in Kenya. It also highlights the key areas that have contributed to the growth of the Islamic financial services sector namely, Shariah governance, niche market strategy and promising regulatory environment. Full Text: PDF DOI: 10.15640/jibf.v5n1a1

Agricultural Show Awards: A Brief Exploration of Their Role Marketing Food Products

ABSTRACTDrawing on interviews with 12 agriculture show winners across a range of different food industries, this report provides a preliminary analysis of the role that agricultural show awards play in branding and marketing food products for commercial sale. In keeping with findings from previous studies, show awards were found to be regarded by producers as prestigious, signifying product excellence. Further, the assessment of the quality of products, the opportunity to receive expert feedback on new products, and a comparative, competitive effect of the show system was found to provide a mechanism to improve quality, helping to support industry standards and foster a culture of innovation. Show awards were identified as especially important in supporting small-scale entrepreneurial endeavors that depend on niche marketing strategies. However, winning awards was shown to contribute more to perceived brand equity of products rather than actual economic gain. To strengthen the impact of show success, participants indicated the need for increased consumer awareness of the meaning of the awards. The authors identify key future directions research could take to maximize the impact of agricultural award systems on the businesses of competitors.