MARKET NICHE AS A METHOD OF BRAND PROMOTION

Abstract

The purpose of the paper is to prove that market niche is one of the methods of brand promotion. Methodology. To do research, we need to use theoretical and empirical methods. Analysing the Interbrand Ranking, we used methods of comparison, concretization, and generalization. Brand value trend was studied using the method of graphics modelling. To study the definition of “market niche,” there were used methods of comparison, generalization, and synthesis thanks to that we defined the special features of this concept. Results. The brand is a relatively new concept, which was developed in the second part of the 20th century. According to the results of this ranking in 2016, the most successful brands were Apple, Google, and Coca-Cola. These brands have the long history and their own experience of doing business in the scale of the global market. One reason for their success is the right selection of a market niche. It was defined that the market niche might be characterized by the next features: highly individual needs and requirements for satisfying which it is necessary to have a range of complement goods and services; stable market potential; weak competitors. There were interviewed several chief-executives of big Ukrainian companies and analysed the most successful and profitable market niches for today. These are: Internet resources: big data; online courses; delivery service; wearable gadget; 3D-printing; robots; fuel cells and batteries; commercial property in regions; smart materials; auto components; health care; recycling; alternative energetics; space; escort of elderly people; franchising business; agriculture; geological prospecting and green projects. Practical implementations. We defined that the brand needs to make six main steps for entering the new market. Firstly, it is necessary to define own niche. Next step is to analyse how external factors influence the brand, which operates in the chosen niche. After this business should analyse opportunities of the brand in this niche, later it is necessary to carry out a SWOT analysis of brand operating in this niche and make the prognosis of the brand operation in this niche and finally prepare the rating of chosen market niches. Value/originality. The results of made investigation might be used by entrepreneurs who are going to set up business because according to the suggested analysis we can see the most profitable niches for coming 10 years.

Keywords

• market niche, non-material asset, brand, marketing tools, competitiveness, range of goods