Niche Market Strategy

The video discusses competitive strategy, focusing on niche market strategy as a way to meet specialized needs of a target market segment. It explains how companies can use cost-based or differentiation approaches to stand out in a niche market. Michael Porter's theory of generic strategies is introduced, emphasizing the importance of unique value propositions in niche markets.

What is a niche market strategy and how does it differ from broader market strategies?

According to Michael Porter, what is the significance of a niche market in competitive strategy?

How can companies effectively serve niche markets while competing with larger companies?

What are the two approaches mentioned for establishing a competitive advantage in a niche market?

In what ways can a company differentiate its product for a niche market?