This paper seeks to establish that the instability of niche markets, and their predisposition to catastrophic collapse, makes market flexibility a prerequisite for long-term survival among niche marketers. It describes the two ways by which a niche marketer can acquire this market flexibility and demonstrates the advantages of the second of these two approaches, i.e. the development of a portfolio of separated niches. Planning for flexibility is essential for long-term survival as a niche marketer. Two broad approaches to achieve this exist – i.e. contingency and portfolio planning – which are not mutually exclusive. The portfolio approach offers specific advantages and examples of its successful applications exist.
|Number of Pages||17|
|Company||Fisher and Paykel Appliance Holdings Limited|
|Setting - Country||New Zealand; International|
|Setting - City||Auckland|
|Industry||Manufacturing; Retailing / wholesale / distribution|
|Source||Journal article in: European Journal of Marketing (2012-01-01). Volume: 46, Issue: 10. Pages: 1302 - 1319|