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that is not being addressed by mainstream providers. A niche market may be thought of as a narrowly
defined group of potential customers.
for a product or service is not met by any supply,
or when a new demand
arises due to changes in society, technology, or the general
mainstream marketplace, due to the benefits of specialization and focus on small identifiable market segments.
Niche markets may be ignored or discounted by large businesses due to
what they consider to be small potential;
this in turn is part of the
process that makes the niche market available to smaller businesses.The key to capitalizing on a niche market is to find or develop a
market niche that has customers who are accessible, that is growing
fast enough, and that is not owned by one established vendor already.