This is an old revision of this page, as edited by 74.113.216.225 (talk) at 01:20, 8 December 2006 (→Marketing in and for niche markets). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.
Revision as of 01:20, 8 December 2006 by 74.113.216.225 (talk) (→Marketing in and for niche markets)(diff) ← Previous revision | Latest revision (diff) | Newer revision → (diff)A niche market is a focused, targetable portion of a market sector.
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 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 other 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 term 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...
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