Niche marketing can be extremely cost- and effort-effective for both brick & mortar and online businesses. With a narrowly defined target segment, strong understanding of these prospects’ needs and a good product meeting those needs, you are set for niche marketing with even a shoe-string budget. Niche Marketing is all about maintaining, managing and fostering customer relationships with the eventual objective of achieving profitable long term customer loyalty. Thoroughly understanding your psychographics is an integral and very critical element to the success in Niche Marketing.