Refers to a specific segment within a broader market, enabling brands to customize their products and communication to a specific audience. By establishing themselves in niche markets, brands can assert leadership, enhance customer loyalty, and enjoy higher profit margins due to reduced competition and tailored communication strategies. Consider Pashley Cycles, a British bicycle manufacturer founded in 1926. It has carved out a prominent niche among enthusiasts who value classic design and are ready to pay a premium for handcrafted excellence.
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