Types of niche research generally vary depending on the types of niche media and methods used to gather information about the niche market. Niche information is available in many places, including online, in print publications, and at events catering to niche markets. The best way to approach niche marketing is to research by investigating all types of niche media, since this practice will give a company a more developed research view of the niche market they wish to attract. Different types of niche research will reveal different sets of information about each niche market segment.
A niche market is essentially a submarket within a larger segment of the buying market. Effective niche marketing depends on catering to the specific needs of a group of niche buyers, and niche research is the best way to determine what changes to make to best cater to a niche market. Niche research starts by looking at niche media publications and the ads they carry. Ways to conduct niche research includes researching niche media types like websites and magazines. Getting an understanding of the types of advertising that appears in niche publications monthly can tell a marketer what types of things niche buyers value in a purchase.
Another type of niche research involves examining the companies that provide products or services to a niche. By examining the companies operating within a niche market, a niche researcher can get information about common product types in a niche market. This type of research can also help determine when a niche market is saturated, making it an unwise target for a new business.
The buyers within a niche value different things from products than customers in general. They may be looking for products, features, or certifications that are of greater value to them, and they will often pay more for what they perceive as a value-added product. Valued features can be as simple as product color, but can include features an everyday buyer might overlook. For example, while a beginning cook seeking a hand blender might choose a purchase based mainly on brand or price, a niche buyer like a home culinary hobbyist might seek a hand blender with features like speed control or multiple attachments that make the product more useful to him.
Websites for niche research include web discussion boards, groups, and forums dedicated to niche markets related to a product. Topics for online discussion can include features that users like and dislike in products, revealing important information about consumer desires in that niche. Niche research can benefit companies handling any type of business or customer. Examples of niche markets can include truck drivers who prefer large truck cabs, consumers who are allergic to trace amounts of peanut products, or Christmas tree buyers who prefer live, rooted trees to those that have been cut.