Selling to Mass Market Vs. Selling to Niche Market

[Kane]

Apple sells to the niche market, it is the number one company in the world. Samsung with various range of products, sell to the masses, and it is not even on the top 10 list. This is the case of big businesses, but what about small businesses. Do small businesses also make more money by selling to niche market, or do they survive only by selling to the masses? To sell to the masses, you need to manufacture a lot of products, and you need big investment. Therefore, I believe small businesses should focus on niche market and sell premium products.

 

[Grant]

I think it depends on the niche. Some niches only focus on one thing and specifically that thing. While some niches aren't even popular enough to draw a profit.

You can still promote your niche to the masses, as there may be people in the masses interested in your niche.

So in a way promoting to the masses is ideal, because you got your niche covered and also draw others out from the masses.

 

[Timgab]

In lot of cases, focusing on a niche market can be a swift strategic move for businesses that are small are at beginning stage. By offering premium products to a specialized audience, they can build brand loyalty and make higher prices. This strategy often requires less investment compared to selling to the masses and often lead to steady growth and profitability.