4 Oct 2018, 10:30 — 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 byGlobalLinker Staff
We are a team of experienced industry professionals committed to sharing our knowledge and skills with small & medium enterprises.
Recommended articles for you
By Rajesh Joshi
2 days ago