| Revision as of 12:03, 23 August 2006 edit83.5.137.104 (talk)No edit summary← Previous edit | Revision as of 08:13, 2 September 2006 edit undoThe Nixinator (talk | contribs)271 editsNo edit summaryNext edit → | ||
| Line 1: | Line 1: | ||
| A '''niche market''' is a focused, targetable portion of a ]. | A '''niche market''' is a focused, targetable portion of a ]. | ||
| By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by ] providers. |
By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by ] providers. A niche market may be thought of as as a narrowly defined group of potential customers. | ||
| A niche market usually evolves |
A distinct niche market usually evolves out of a market ], where potential ] is not met by any supply. | ||
| ⚫ | Such ventures are profitable because of disinterest on the part of large businesses and/or lack of awareness on the part of sother small companies. The key to capitalizing on a niche market is to find or develop a market niche that has customers who are accessible, that is growing fast enough, and that is not owned by one established vendor already. | ||
| Why should one bother to establish a niche market? Because of the great advantage of being alone there; other small businesses may not be aware of a particular niche market, and large businesses won't want to bother with it. | |||
| ⚫ | The |
||
| ==Etymology== | ==Etymology== | ||
| Line 13: | Line 12: | ||
| ==Marketing in and for niche markets== | ==Marketing in and for niche markets== | ||
| '''Niche marketing''' is the process of finding and serving small but potentially ]able ] segments and designing custom-made ] or ] for them. For big companies those market segments are often too small in order to serve them profitably as they often lack ]. Niche marketers are often reliant on the ] to maintain a profitable volume of sales. | '''Niche marketing''' is the process of finding and serving small but potentially ]able ] segments and designing custom-made ] or ] for them. For big companies those market segments are often too small in order to serve them profitably as they often lack ]. Niche marketers are often reliant on the ] to maintain a profitable volume of sales. | ||
| <!--Misplaced Pages is not the place to publish original research.--> | |||
| Internet marketeers often find a niche poorly represented online and create a site providing information and goods in this particular field. With little or no competition it's easy to get high search engine rankings and make profit. | |||
| ==External links== | ==External links== | ||
Revision as of 08:13, 2 September 2006
A niche market is a focused, targetable portion of a market.
By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. A niche market may be thought of as as a narrowly defined group of potential customers.
A distinct niche market usually evolves out of a market niche, where potential demand is not met by any supply.
Such ventures are profitable because of disinterest on the part of large businesses and/or lack of awareness on the part of sother small companies. The key to capitalizing on a niche market is to find or develop a market niche that has customers who are accessible, that is growing fast enough, and that is not owned by one established vendor already.
Etymology
The expression niche is borrowed from ecology and implies a situation or an activity perfectly suited to a person or a given type of personality. This concept has been extended from persons to products on the market. Whereas a niche in the strict sense can be a working position or an area suited to a person who occupies it, the market niche is perfectly suited for a product of human labour.
Marketing in and for niche markets
Niche marketing is the process of finding and serving small but potentially profitable market segments and designing custom-made products or services for them. For big companies those market segments are often too small in order to serve them profitably as they often lack economies of scale. Niche marketers are often reliant on the loyalty business model to maintain a profitable volume of sales.
External links
 | This economics-related article is a stub. You can help Misplaced Pages by expanding it. |