Urban Outfitters - Admission/Application Essay Example

This represents a problem because if the project moves forward and the company is unable to obtain the proper certification the entire enterprise could be shut down. Lastly it is the case that establishing a good consumer base through adequate marketing may be a large problem. This represents a problem because even if the venture has a g, od business model the company would not be able to turn a profit if it cannot attract customers.According to the case study a niche market is a subset of the major market that is not serviced by mainstream providers, by extension one could conclude that a ‘niche’ product would be any product offering that is a subset of the major product offerings that are not serviced by contemporary vendors.

A first example of a niche product that comes to mind would be a specialty magazine such as bass fishing. While there may be lots of ‘fishing magazines’ many anglers might not be interested in all types of fishing so a niche product such American Bass Anglers (2010) might be established. A second example that comes to mind would be the high end automobile manufacturer ‘Rolls Royce’. While most people are content to drive an inexpensive car, mass manufactured, which can get them from ‘A’ to ‘B’, Rolls Royce customers prefer a very expensive, highly customized, and highly exclusive vehicle.

A niche company would have an advantage in the market because by definition they are service a sub-section of the market that is not covered by mainstream producers. If a customer is not able have their demands satisfied by mainstream providers it could be the case that a niche provider would have a demand big enough to warrant their existence.