Niche
A niche is a specific part of a market that products and services target. Niche markets are created because companies see potential in specific needs. These demarcated market segments are often small, but because few other players are active, with the right focus it is still possible to achieve returns.
By coming up with exactly the products and services that potential customers are waiting for, it is easier to hold a firm position or even monopoly in a niche than in a market with a lot of competition.
The characteristic of a niche makes the number of niche markets endless. Some examples of possible niches: knitting patterns, sheet music, dog trimming, dance shoes, low-end book publishing.
