Katelyn_Ch5

Niche Markets

In chapter five, under identifying the target audience, a figure called the Levels of Audience Aggregation was shown. I found this very interesting, because it's important for a brand to always know their specific target market in order to market to them. According to Entrepreneur.com, niche markets are specific, narrowly defined target markets. This article, 7 Steps to Defining Your Niche Market, explains how difficult it is to establish and keep your niche market while starting a new business. "Good niches don't just fall into your lap; they must be carefully crafted."