What is a niche market?

Question

What is a niche market?

Answer 1

Specific market. These are usually filled with  a smaller amount of competitors, and a smaller amount of customers.

For example, a company that makes replacement blades for lawn-mowers. Not very easy to start up a business competing with those guys, especially to make one cheaper.

Or a company that makes volume-k***s. Those items go specifically to the electronics manufacturers (since most assemble their items from parts scourced elsewhere.)

Or a diaper manufacturer. Very unlikely that anyone would even bother trying to start up a diaper company, with the leaders so powerful. And they don't ever have to make anything other than diapers. Once you've established yourself in a niche, it's pretty much yours.

Answer 2

Niche markets are more narrowed.