In 2006, the British board game business “GAMES WORKSHOP” arrived in China to segregate consumer groups, distinguish product designs, and pursue a niche approach in the limited popularization market.
We segmented our target clients into (1) collective customers (2) prefabricated customers (3) painted customers and pushed specialized tactics by segmenting them into (1) collective customers (2) prefabricated customers (3) painted customers.
As a result, people continue to appreciate it and it is still doing business in China.
Instead of conventional kaoliang liquor customers, Kang So-baek, a Chinese kaoliang liquor manufacturer, released low-water fruit stocks aimed towards 2030 consumers.
On the T-mall platform, the positive rating of young people in their 30s and younger reached 99 percent immediately after the debut of fruit stocks in 2018, and many products out of six fruit stocks in 2021 have already achieved sales of 100 million won.
What are the drawbacks of Nichi advertising?
To begin with, generating income is challenging.
Because you concentrate on the few, you can’t expect to make a lot of money.
The second drawback is that there is a significant level of danger.
You risk losing the large public demand if you concentrate on the few.
Third, it is simple to make a mistake.
Because of the limited market, it’s possible that the analysis won’t be enough to suit the demands of a small number of customers.
Let’s take a look at Nichi Marketing’s failure next.
Lobbyists who fought against smoking in 1988 were aware of the effects of regular smoking and secondhand smoke.
To deal with customers who are hesitant to smoke, RJ Reynolds Tabaco has introduced Premier Tobacco, a smoke-free cigarette.
Smokers, on the other hand, did not see the need for smoke-free cigarettes, and the target market, smokers, were exposed to items they did not desire, resulting in a significant drop in sales.
Let’s have a look at the second failure scenario.
Delta chose to enter a new low-cost airline market in 2003, focusing on “cool-minded professional female business travelers.”
Delta Airlines has provided a wide range of services to fulfill the target’s requirements.
However, when I executed it, the objective was so tiny that it became impossible to keep the firm going, no matter how low the price was.
As a consequence, Delta Airlines did not fly again until April 2006, 36 months after it began operations.
Now let’s look at the third failure.
Wahaha, a Chinese beverage firm, has introduced a beer-flavored drink aimed at youths and adults who are unable to use alcohol.
However, very few people purchased it again since it tasted like beer, but it wasn’t beer, and it wasn’t a drink.
And as a result, manufacturing was halted.
Let’s take a look at the requirements for effective Nich marketing next.
You must first determine if there is a substantial user base and loyalty to acquire the product, as well as whether the customer’s issue fits the value it gives.
To rejuvenate niche markets, segmentation techniques must be devised, and the sustainability and dependability of tiny markets must be established.
Niche marketing may be effective if these requirements are satisfied.
We learnt about Nichi Marketing this time.
If you target a niche market that will grow as a result of COVID-19, you may build effective marketing by remembering and doing what I’ve already taught you.
I’m pretty excited to see what sort of specialized marketing we’ll see in the future.