Market niche
A market niche is a small, well-defined group of people or businesses with specific needs that existing offerings do not fully meet
What it means, how it is used and where it comes up, with its related concepts.
What it is and how it works
It usually emerges when a broader segment is divided using more precise criteria. For example, within the segment of people who play sport, those who go ice climbing; or, within cosmetics, people looking for fragrance-free products for sensitive skin. Its members share characteristics and are willing to value a specialised offering.
A niche is attractive to a company if it is large enough to be viable, reachable through specific channels and underserved by competitors. It is the starting point for niche marketing, the strategy that targets it.
Also known as
Niche market, Niche
Topics