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Shoes for vegan women would be a niche market, as would shoes for plus-sized women or shoes for nurses. Moving forward with a niche marketing strategyĪ niche market is a segment of a larger market that can be defined by its own unique needs, preferences, or identity that makes it different from the market at large.įor example, within the market for women’s shoes are many different segments or niches.
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How to evaluate your niche market ideas.How to find your own niche market in 2021.Plus, we’ll look at nine niche market examples (including specific product ideas) that are ripe for new players. The key is to identify a niche market you can master and that has a viable audience of customers.īelow, we’ll go over what a niche market is, how to identify one, and how to find in-demand products to serve it.
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There are countless profitable niches you can pursue, with the opportunity to niche down even further. If you’re racking your brain trying to think of your first product idea, coming up with a specific niche is a great place to begin. From your unique value proposition to product line extensions, focusing on a niche market makes it easier for the right customers to say, “This is for me.” The same holds true when you’re an online business owner.Ĭarving out a niche market and positioning yourself as the go-to brand for a specific audience not only establishes your credibility over competing generalists but also results in a more focused business. Ever hear the expression, “ jack of all trades, master of none”? It essentially means that a generalist can do everything decently, while a specialist does one thing extremely well.