Whats A Niche?
September 29, 2007
The term niche means a smaller, focused section of a particular group. For example, earrings are a niche of jewelry. Clip on earrings are a niche of earrings and pearl clip on earrings are a niche of clip on earrings and so on.
You can drill down any market to a very specific niche.
If you have a business online, you maybe looking for a Niche Market to get into.
Wikipedia.com defines a Niche Market as follows:
A niche market also known as a target market is a focused, targetable portion (subset) 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.
Sounds pretty good doesn’t it?
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