Analysis of Niche Marketing Report

Added on - 21 Apr 2020

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Running head: ANALYSIS OF NICHE MARKETINGANALYSIS OF NICHE MARKETINGName of the StudentName of the UniversityAuthor Note
ANALYSIS OF NICHE MARKETING1IntroductionThis essay is based on the niche marketing concept related to the marketing activitiesthat are undertaken by an organization for small markets and for the people who have somedifferent desires from the particular market. The niche marketers aim at small groups ofpeople rather than larger ones. The strategy of the niche marketers is to channelize all theefforts regarding marketing towards a small group of the population. The niche strategies donot exist in the organization; however, the marketing managers make these strategies byidentifying the needs of the customers (Aufderheide, 2013). Niche marketing strategy istechnique that is used with the aim to select a specific or unique segment of the market. Theidentification of the wants of the customers and their specific needs helps in the creation ofniche market segments. The niche marketing strategy helps the organization to deliver thebest possible solution to the customers based on his or her needs.The companies that are taken into consideration for this analysis are, Dropee, JYAquaculture Resources and Mii FoodService Pte Ltd. Dropee provides a platform for B2Bmarket for the retailers as well as the wholesalers. The retailers can have access to more thanthousands of products of the wholesalers and grow their business accordingly. Dropeepromotes many branded products of the categories including, office and stationery products,dining and kitchen related products, bath and bed related products. The products also includehousekeeping and cleaning related products and personal and health care related products aswell (Dropee.com, 2017). The second company that is taken into consideration is JYAquaculture Resources, which is active company that works in filtration system of householdwater. The company aims at providing direct services to the customers to save the costsrelated to the agents (Jyaquacultureresources.webs.com, 2017). The third company that istaken into consideration is Mii FoodService Pte Ltd. This company works in the field ofsupplying equipment to the hotels and restaurants used for the purpose of cooking. This
ANALYSIS OF NICHE MARKETING2company is new in the market and is based in Singapore. They provide food equipment to therestaurants in Singapore (Miifoodservice.com, 2017). The analysis related to niche marketingis based on these three companies and the different aspects of the business related to nichemarketing.DiscussionThe three companies that are considered for this essay have followed the nichemarketing strategy. The first company is Dropee, which connects the suppliers and theretailers. This website makes it easy for the retailers to establish contact with the wholesalers.The organization has an interactive website that provides the link between the manufacturersor suppliers with the retailers and the wholesalers. The website provides opportunities for theretailers to purchase the products in bulk quantities directly from the wholesalers and makingthe payment through the website itself (Dropee.com, 2017). The website also provides creditfacilities for the retailers on the approval of the suppliers. This company has almost zero levelof competition in the market as there are not many companies that provide these facilities tothe consumers. The customers who are concerned in this case are the retailers and thewholesalers as well. The direct platform that is provided to them by the website helps indecreasing the costs related to the middle men of the supply process (Boons et al., 2013). Thecompany has maintained good relationships with the suppliers and the retailers by providingthem with facilities of making payments of the purchased goods through the website itselfand making the credit facilities available for the retailers. The website of the organizationprovides the facility of easy returns and refund (Toften & Hammervoll, 2013). The defectivemerchandise that maybe found in the shipments can be returned to the company withinfourteen days of purchasing. Some of the products are exceptions in this case. The refundpolicy of the organization is also strong and it emphasizes on the satisfaction of the customersregarding the products. The organization promises direct reimbursement of the money for the
ANALYSIS OF NICHE MARKETING3retailers in this case (Bressler, 2012). Dropee also ensures the returns of the goods that arepurchased from the third-party sellers or the suppliers who are registered with Dropee. Thereturn and refund policy of Dropee is clean and transparent. The company encourages in thereturn of the products based on some criteria which include, the damaged or defectiveprodcts, wrong products or products that not delivered in time. The transparent return andrefund policy of the organization helps Dropee in maintaining healthy and fruitfulprofessional relationships with the suppliers of the organization as well as the retailers whopurchase the goods. The payment process of Dropee is also secure and safe, which helps thenew users in trusting the organization. The company has its own efficient logistics teamwhich aims at delivering the products safely to the retailers. The registration process of thewebsite is also quite user friendly and fast and the instructions are provided clearly regardingthe registration of new members in the Dropee website (Cronin-Gilmore, 2012). Theorganization aims at providing the business opportunities to the retailers who wish topurchase their products directly from the wholesalers. The group of target customers is smallin this case. The reason is that the organization is targeting the wholesalers and retailers inthis case and not the consumers directly. This is helping the organization in providing the bestservice to the target customers. Instead of targeting a large group of people or customers, theorganization is targeting a small group and trying to fulfil the needs only of that particulargroup. This has helped the organization in going strong since its inception. The organizationhas followed the niche strategy of marketing and has gained huge advantage due to this.Dropee does not face much competition in the same industry, because there are not manycompanies that provide these facilities to the retailers and suppliers (Gupta, Seetharaman &Raj, 2013). The service provided by Dropee has also proved to be effective in this case, asthis service in huge demand among the retailers of Malaysia. Purchasing the products fromthe Dropee website helps the retailers to buy those products at much lower rates as the middle
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