Niche market

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The Hindu Business Line  Sep 24  Comment 
Synopsis of the Case Colgate is one of the highly trusted brands in the oral care industry. It held the highest market share of 54.5 per cent in 2012. The company uses a 'sub-brand...
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The Hindu Business Line  Feb 26  Comment 
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One of the first rules for successful online sellers is to try and find a niche market. If you're thinking about setting up an online shop, you'll want to choose a relatively narrow market to help you understand what that consumer base wants. This...




 
TOP CONTRIBUTORS

Niche markets are focused, targetable subsets of a market sector. A business that focuses on a niche market often tries to address a need for a product or service not obtainable through mainstream providers. A niche market can be thought of as a narrowly-defined group of potential customers. For instance, environmental waste management is a small niche within the larger waste management market.

Niche market ventures may become profitable even though they are by nature small in comparison to the mainstream marketplace. The advantage of specialization and focusing on small, identifiable market segments can compensate for the difficulty of not having economies of scale. Niche markets may be ignored or discounted by large businesses for "small potential;" making the niche market continue to be available to smaller businesses.

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