Acquiring Market Flexibility via Niche Portfolios: The Case of Fisher & Paykel WhiteGoods

Abstract

The instability of niche markets, and their predisposition to catastrophic collapse, makes market flexibility a prerequisite for long-term survival among niche marketers. This article describes how a niche marketer can acquire this market flexibility via the development of a portfolio of niches. An in depth discussion of niche instability/ implosion, and how niche market flexibility can be acquired to increase the survivability of such events, provides the context for a single in-depth case study of a company employing a systematic niche market portfolio flexibility approach that allows it to not only survive, but prosper, in the face of such events. Planning for flexibility is essential for long-term survival as a niche marketer. The article has substantial implications for practice, as fragmentation of markets and globalisation of production makes niche marketing desirable/essential for many players.