Niche and target marketing strategy for EcoForest Leisure
EcoForest Leisure operates in a market with a wealth of opportunities. However, weaknesses displayed by the company, especially in its marketing strategy, means that it cannot exploit these opportunities. Concerning this, this section will recommend a niche and target marketing strategy that will underpin the exploitation of the opportunities in the market.
From the case study, it is has been established that the company intends to venture into corporate wellbeing events and other retreat activities. Contemporarily, the company faces stiff competition from various competitors in the segments of fitness, wellbeing and retreats. Hence, this study recommends a niche and target marketing strategy. Niche marketing involves three steps of segmenting, targeting and positioning. Segmentation entails demarcating the market into segments; in this case demographic segmentations with respect to age will be used. As a result, EcoForest Leisure should focus on attracting millennials should be adopted. Lee et al. (2019) indicate that millennials form a strong customer base for entities providing fitness and wellbeing services. Basically, adoption of niche marketing at EcoForest Leisure will help the company to develop a marketing strategy that addresses the needs of a specific niche. Akbar et al. (2017) discuss that niche marketing streamlines marketing because the company able to exclusively focus on a specific demographic. In this case, Eco Forest will direct its niche marketing initiatives towards millennials.