Know-How Exchange : Student Questions

hi!!

well niche market is actually is a small gap where being the marketer you find that this has has a potential for generating the revenues and this gap or target market has similiar needs.

the target market would be small in size but it will gives yu 80% of the revenues like 20% of the whole population will givesyou 80% business.

hope u got it..
good luck

Hassen,

See this reference in Wikipedia:

https://en.wikipedia.org/wiki/Niche_market

A niche market is a focused sub-segment of the main market. Rolex products are in the "watch" market, as is Timex. Rolex watches satisfy a "need" for expensive watches. Expensive watches are a niche in the overall watch market.

Similarly, Rolls Royce, Porche, and Ford are producers in the "automobile" market. Rolls Royce supplies to the very high end luxury niche. Ford's Lincoln product line is a luxury category also, but Rolls Royce cars are "high end luxury" - a niche of the luxury niche. Porche supplies "performance" cars - a different niche from Rolls Royce.

I hope this helps.

Wayde