Niche Markets

• Tourism
• Foundation Degree

Niche Markets

Definitions 

Niche Market: a small area of trade within the economy, often involving specialised products (dictionary.com)

Toften and Hammervoll (2009), niche marketing can be understood as a focus on a limited market, which is generally considered to be appropriate for small or specialised businesses.

Ways to identify a niche....

Price

Demographics

Level of quality

Psychographics

Geographic area

Lifestyle

Occasion

Profession

Style

Culture

Activity or habits

Behaviour

Niche Tourism 

Why do you think this type of tourism has become so popular?

Niche Events 

Can you think of an example of a niche event?

Examples of niche events 

Technology Conferences

Sustainability Expos

Food and Beverage Festivals

Wellness Retreats

Personal Development Seminars

Music and Art Festivals

Fashion Shows

Sports Conventions

Entrepreneurship Bootcamps

Gaming and Esports Events

Travel Expos

Health and Wellness Conferences

Pet Shows and Expos

Film Festivals

www.corporateeventnews.com

Millennials 

Scott Wayne, co-founder of The Envoy Portfolio, a team of negotiators, analysts and creatives, who research and influence human decision-making through a portfolio of products and services, believes niche events are growing in popularity because they appeal to millennials’ preferences.

“As millennials are now the largest generation in the workplace, it comes as no surprise that their preferences are becoming more in demand,” he says.

Wayne continues, “Millennials crave less formal and more experiential and intimate learning and networking experiences. Having only ever lived in a digitally centric business environment, smaller more experimental talks and events offer a personalized opportunity to disconnect and make lasting personal connections.”

Niche Hospitality 

Hotels 

Restaurants 

Bars/pubs 

Retreats 

Tours/trails 

Group task - Padlet page

Group 1 - Events 

Group 2 - Tourism 

Group 3 - Hospitality 

Examples in NI

Class test - practice 

Complete workbook 

Draft model answer