Difference - Niche Marketing and Micro Marketing

Niche Marketing:

A niche market which you called subset of the market. Where we focused on specific product. Also we can say that a niche market must satisfy specific market needs. Where we have to fulfill criteria like Price Range, Production Quality, Demographic that is intending to impact. That is called niche marketing.

Example 1:

For example BMW car is a niche product and only a small segment of the market can afford it. So we are going to target at specific people you can say rich people who can buy it. That’s example of Niche.

Example 2 A training expert of sales in US(America). Let’s suppose he trains student for financial planning. He teach them how to generate Referrals from customer at the close of selling process. Now we call him specialize in one minor part of sales process only.

Read: Homogeneous and Heterogeneous Marketing

Micro Marketing:

Micro marketing is a marketing strategy in which promotional strategies are focused on a small group of consumers. e.g. a labor or a rich man those are specific called Micro marketing. The other name of micro marketing is micro niche marketing.

Example 1 In Micro marketing, targeted audience captured by company by specific attribute. For example occupation, working class of good salaries etc. Example 2 Another example of Micro is; you have to market your product to the specific people. Like safety belts used by engineers so we market that near them. Special Foods used by special people so we market near them. ———————————————-

Niche Marketing: Niche marketing only target specific peoples but in Micro Economic make decision according to the government and taxes policy. Also Micro economics take supply and demand into account.