I am frequently asked what is meant by a “niche market.” Well, a niche market is a subset of interest amongst a large group. For example, what are your interests? Your likes? Your dislikes? Find something you’re interested in and then “niche down”.
“Niching down” means that if you decide that FLOWERS will be your niche then you will quickly spot that FLOWERS is far to generic and “niche down” to something like “RED ROSES” or “PURPLE TULIPS.” The number of customers in the purple tulips marketplace will be smaller but so will be the competition. Having a niche market makes it easier for you to know exactly who your target market is and it becomes much easier to reach that exact audience. The more you “niche down” the truer this is.
photo credit: Lincolnian
Tags: Niche Marketing, what is a niche market
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