Handbook of Niche Marketing: Principles and Practice

Citation

Clarke, I. (2007), "Handbook of Niche Marketing: Principles and Practice", Journal of Consumer Marketing, Vol. 24 No. 1, pp. 57-57. https://doi.org/10.1108/07363760710720993

Marketing practitioners have long acknowledged the importance of niche markets in their overall strategy. Changing macro‐environmental factors have reshaped marketing strategies such that broad mass markets have been under constant pressure by niche marketers. The fragmentation of markets and the ever‐increasing demands of the consumer have created a marketplace that requires greater flexibility and differentiation. For niche marketing, the focus remains on the customers' needs by offering specializing goods and services at a profit. Instead of targeting the entire marketplace, with a single blending of the marketing mix, niche marketers focus on a group of consumers with a common set of needs that allows the company to best provide the most desirable bundle of benefits. Often, niche marketing will be dependent upon the ability of a smaller nimbler force to focus on the needs of the target group. However, niche markets need not be limited by the size of the companies. For example, Johnson & Johnson has established an overall organization that consists of 170 business units, many in the pursuit of niche markets.

Clearly, the popular press is awash with articles on niche marketing practices. This plethora of discussion may tempt one to conclude that niche marketing research is no longer contemporary, with little new to be added to the expansive discussion. However, this book counters that supposition by offering a series of conceptual and empirical articles that advance the theories behind successful niche marketing. The handbook takes a pragmatic approach by offering a framework for successful niche marketing that can be used by today's marketers. It also effectively presents the theoretical groundwork that can be employed in future research on the topic.

The handbook is divided into nine chapters, written by various co‐authors, each representing a distinct scholarly topic. The book begins by revisiting the basics of niche marketing as compared to mass marketing. The chapter is rich with European case examples and concludes with a 12‐step practical guide to niche marketing. The second chapter offers a conceptual framework for global niche marketing with excellent examples and eleven mini‐cases. The second section of the handbook (Chapters 3‐6) looks at recent empirical studies on niche marketing relative to product line extensions, measurement of brand competition, high tech performance, and the visual approach to consumer niche markets. While some of the chapters are reprinted articles from marketing journals, others represent initial publications. The third section (Chapters 7‐9) presents in‐depth case studies on niche marketing. The hotel industry, global wine trade, and gay market segments are each explored. Practical discussions are found on crafting a niche market, selecting the right niche, and in the evolution of the niches over time. Each case looks at the macro environmental forces that have shaped these markets. The book is bursting with examples of companies that have crafted successful niche strategies in response to these current market transformations.

On the whole, The Handbook of Niche Marketing provides a strong compilation of articles on niche marketing. Every chapter is grounded in applications that accentuate the relevance of the theoretical dialogue. The chapters are clearly written with an abundance of examples that would be useful to both marketing practitioners and academics. Although each chapter is unique, there is very little overlap in discussion. The editor does an admirable job of providing definitional and fundamental support in the first chapter.

This collection of important “classics” in niche marketing should have broad appeal in the marketing community. The book is certainly worthy of a place on your bookshelf and will likely leave the reader with a renewed appreciation for niche marketing. Without question, niche marketing maintains significance within modern marketing strategy. Given the importance of niche strategies to marketing practice we can remain hopeful that this handbook will revitalize empirical research on this topic.