Niche marketing is about creating value for consumers to encourage loyalty for a company. By providing unique products and services to specific targets, the company will not be able to serve the general population; however, whoever fits into their customer category will be likely become a loyal consumer.

Then, is it worth it to do niche marketing, in which the company compromises bigger segment of potential consumers, and target a narrowed potential consumer market? Well, it depends. If your company is start up and cannot compete with corporations with humongous capital, you might as well position your company in a niche market. But if you are managing a big corporation, offering products that have broad apple, you might not even have to know about niche market. It is at your discretion to decide which market you want to pursue. However, I believe that niche marketing is definitely worth taking a look at it and considering at least.

Once you obtain loyal consumers, they are likely to buy your products over those of competitors. And, having this kind of consumer in your company’s customer profile is great advantage. Considering the cost benefit analysis, much less capital is required to market the products to loyal customers. Nowadays, increasing competition between companies requires everyone to use unique marketing methods to appeal to consumers. And, this niche marketing will help them to take a look at different segments of consumers where potential loyal consumers await.

reference:

http://alphaavant.com/journal/2013/10/10/niche-marketing-how-to-get-super-loyal-customers

When a consumer encounters a product, an initial impression takes less than a minute to determine whether the consumer likes the product or not. This short time is, in fact, one of the most conclusive and strong decision variable for the buying decision.

And, colour of the products partakes the major portion at initial impression. It is proven that people relate colors to certain moods and feelings; furthermore, consumers relate the colours to certain brands.

As many studies illustrate that colours help people to imagine certain characteristics, companies choose the colour of the products according to what people would perceive of the colour.

For example,Dewalt, tool company, chose black and orange to highlight the manliness and professional look instead of grey ,the standard colour the tools.

Think that you see Dewalt product on the shelve with other grey coloured tools. Dewalt products will stand out among all the products just by having right colour. Black and orange colour will imprint the certain characteristics Dewalt wants the customer to perceive: manliness and professional looks. And, this will certainly help the consumers to decide what to purchase.

Sometimes it is that easy to send the message to the customers by having the right colour. And, this is why I believe that the colour marketing is most cost effective method.