What is Niche Market?

Niche market is a particular or specific segment or portion of the market.

Finding your niche market is the best and wisest thing to do, especially if you’re a start-up or small-medium entrepreneur.

Often times, start-up and small and medium entrepreneurs think that the more services or products they serve, the better the profit.

We fall to the the trap of seeing the big numbers out there of potential customers.

However, what we don’t see is that the more scattered our marketing efforts are, the less chances for us to succeed in our campaign.

A business has to be a leader (and be known for it) to dominate a huge portion of a particular market at a given time.

Focusing on a niche market will also help you as small or start-up entrepreneur, to spend your vital, limited resources (time, manpower, money, idea) to use in a more efficient way. You can’t be a seller of everything to everyone.

Especially, this is effective during times of crisis when every possible cent is worth so much. Too much diversification can make your results too thin.

It would be wise now to get your pen and paper to narrow down the niche market of your business.

Here are some tips on how to capture your niche market.