What type of marketing targets specific types of buyers within a larger market?

Niche marketing is a strategy that focuses on targeting a specific group of consumers within a larger market. This approach is particularly effective because it allows companies to cater to the unique needs and preferences of a distinct segment, creating specialized products or services that resonate deeply with that audience. By honing in on a specific niche, businesses can differentiate themselves from competitors and foster stronger customer loyalty, as they are seen as industry experts or specialists in that particular area.

For instance, a company may focus on eco-friendly products aimed at environmentally conscious consumers, which represents a specific niche within the broader market of consumer goods. This targeted approach often leads to increased efficiency in marketing efforts and can yield higher conversion rates, as messaging and promotions are tailored specifically to the interests of that niche audience.

In contrast, broad marketing, general marketing, and segmented marketing do not focus as intensely on a narrowly defined target group. Broad marketing targets the overall market, whereas general marketing tends to cast an even wider net without specificity regarding audience segmentation. Segmented marketing identifies different groups within a market but does not necessarily focus on a single niche, making niche marketing a more precise and strategic choice for targeting specific buyers.