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Revision as of 22:52, 18 July 2006 by 71.133.125.35 (talk)(diff) ← Previous revision | Latest revision (diff) | Newer revision → (diff)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. You can think of a niche market as a narrowly defined group of potential customers.
A niche market usually evolves from a market niche, where potential demand is not met by any supply.
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 trick 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.
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