Development of a market niche assessment algorithm

The author has developed an algorithm for a comprehensive assessment of the market niche. The main criteria for assessing the niche are defined. These criteria are as follows: market, financial, organizational, managerial and production ones. The market criterion has been studied in detail. A niche market assessment model is proposed. This model is represented by a combination of three types of assessment: general market, consumer and product ones. Models for each type of assessment are proposed; and explanations of the principal approaches to their implementation are given. Niche assessment based on a general market criterion includes research stages at the niche level, at the segment and market level, as well as at the level of industry affiliation. The niche assessment based on the consumer criterion consists of assessments of niche needs, consumer value orientations, consumer behavior and the situation of using a niche product. The niche assessment according to the product criterion contains a set of assessments of the consumer qualities and price of the product, as well as its competitiveness. The analysis of approaches to the implementation of the assessment of existing and potential niches is carried out. For these niches, the principal features contained in the presence of real consumers of existing niches and their absence for potential ones are determined.The algorithm of market evaluation is proposed. It includes a sequence of procedures for studying the market environment, consumers and a niche product. The algorithm describes the conditions for making a decision to refuse to work in a niche or opportunities for its development.

niche, market, segment, market environment, consumer, product, niche assessment, industry, competitiveness