A niche market also known as a target market is a focused, targetable portion (subset) of a market sector. The term Market Sector is used in economics and finance to describe a set of businesses that are buying and selling such similar goods and services that they are in direct competition with each other. ...

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. In economics, a business is a legally-recognized organizational entity existing within an economically free country designed to sell goods and/or services to consumers, usually in an effort to generate profit. ... Look up Market in Wiktionary, the free dictionary. ... Look up mainstream in Wiktionary, the free dictionary. ... A customer is someone who purchases or rents something from an individual or organisation. ...

A distinct niche market usually evolves out of a market niche, where potential demand is not met by any supply. The supply and demand model describes how prices vary as a result of a balance between product availability at each price (supply) and the desires of those with purchasing power at each price (demand). ...

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. Profit is what is gained, after costs are accounted for. ... A vendor is one who sells something. ...

Etymology

The term "niche" was first used by ecologists to describe a species' position and use of resources within its environment. When used in business the term 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. Two lichenes species on a rock, in two different ecological niches In ecology, a niche is a term describing the relational position of a species or population in an ecosystem. ... This article does not cite any references or sources. ... The hierarchy of scientific classification. ... In economics, a business is a legally-recognized organizational entity existing within an economically free country designed to sell goods and/or services to consumers, usually in an effort to generate profit. ... Construction workers generally work long hours for their pay Labor economics seeks to understand the functioning of the market and dynamics for labor. ... For the album by the Kaiser Chiefs see Employment (album) Employment is a contract between two parties, one being the employer and the other being the employee. ... A skill is an ability, usually learned and acquired through training, to perform actions which achieve a desired outcome. ...

Marketing in and for niche markets

Niche marketing is the process of finding and serving 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. This article is about a term used in economics. ... The increase in output from Q to Q2 causes a decrease in the average cost of each unit from C to C1. ... The loyalty business model is a business model used in strategic management in which company resources are employed so as to increase the loyalty of customers and other stakeholders in the expectation that corporate objectives will be met or surpassed. ...

Online Niche Marketing

An often used technique for affiliate marketers. By seeking out smaller segments of larger markets, a website can be developed and promoted quickly to uniquely serve a targeted and usually loyal customer base, giving the affiliate a small but regular income stream. This technique is then repeated across several other niche websites until a desired income level is achieved. An affiliate is a commercial entity with a relationship with a peer or a larger entity. ...