Niche Market - Business concept of the day
Business Development
319 week ago — 1 min read
Definition: A niche market is a very specific segment of a market in which a product is trying to meet a unique, focused and specialised need.
Example: A company entered into fragrance-free lotions and creams to target consumers with skin problems like eczema. Given their unique focus and the specialised product, they're able to charge 35% more than their regular line of products.
Business Insight: Strategies for entering a niche market are often aimed at being a big fish in a small pond.
Posted by
GlobalLinker StaffWe are a team of experienced industry professionals committed to sharing our knowledge and skills with small & medium enterprises.
Network with SMEs mentioned in this article
View GlobalLinker 's profile
SME Inspirations
Most read this week
Trending
Ecommerce 3 days ago
Comments (6)
Please login or Register to join the discussion