Niche marketing: Marketing study of orthopedic support products in Turkey

SUMMARY Today, niche marketing has an important role in the survival of small - and medium- sized businesses. Those businesses, who understand and respond to the needs of the target consumers, will be able to establish strong and long term relations with their customers. Customers, on the other hand; will be willing to pay price premiums to these firms for satisfying their needs. However, as niche markets have growth potential, larger firms may also be interested in these markets. Niche marketers who establish long term and strong liaisons with their customers will be able to protect themselves from larger competitors' attacks. This study is composed of three sections. In the first section, the concept of niche marketing, its development and its characteristics were outlined. This section also included relationship marketing and database marketing as useful tools for niche marketing. In the second section, niche marketing process and how to identify niche markets, strategy formulation, and developing tactics for niche markets were examined. In the third section, which constituted the empirical part of this thesis, orthopedic support products that set a good example to niche markets were analysed. Based on interviews with managers of major firms in the Turkish market, goals, organizational structures, and marketing strategies of these firms were investigated. To complete the empirical investigations, surveys with doctors, patients, and dealers were also made. Then the results were compared with those of the firm managers. In the conclusion section, a general evaluation of the results and further suggestions for the sector were presented. rx