What is a specialized product?
The niche product is a product that focuses on a very specific audience or is used for a very specific purpose. Such products may have large potential buyers or only a small market segment. In both cases, marketing of these products is a specialized area that requires a thorough knowledge of the market and product. The niche can be very successful if they have quality, price and marketing correct.
Often a specialized product sells to individual consumers. In these cases, the product usually saves consumer time or facilitates an unpleasant task. Consumers are willing to buy, although they often do not use the product because the product solves the problem for them.
Cooking is one area in which specialized products traditionally sell well. Well -known kitchen examples include citrus cups and garlic presses. Each of these items is used only for one very specific purpose. Still, because the extraction of garlic from the clove and removal of the sunPkyod citrus fruits are difficult, chaotic work, chefs who often participate in these tasks are willing to buy products. Garlic press could be contrasted with a wooden spoon, which is not a specialized product because it can be used for various kitchen tasks.
Another way to create a niche on the consumer market is to address a specific market subsection. For example, a retail position can carry uniforms and equipment for nurses, police officers or teachers. Although people can sometimes buy such places outside the target profession, the transfer of goods that these experts need to do their job allows the retailer to create a niche on the market.
The niche product can also address the company. As with consumer products, a business product is used for a specific purpose. An example would be a company whose only offer is a collector's collector for a peaceful building. HighSchools, museums, churches and other historical buildings could be interested in making replicas of their buildings in their gift shops. Such miniature buildings are special items and would qualify as specialized products.
The company could also address business niches by offering a widely needed, widely distributed product that has been adapted for a specific type of business. For example, customer -management software uses many businesses in a wide range of industries. However, some software providers only a license solution for customer relationships that have been adapted to real estate agents. This adaptation for a particular market segment makes such a specialized product.