The niche
Example: Niche targets specific segment of customers with unique needs
Definition
"The niche" in entrepreneurship refers to a specialized segment of the market that focuses on meeting the unique needs or preferences of a specific group of customers, often overlooked by mainstream providers, allowing businesses to target and serve this group effectively.
Etymology
The term "the niche" originates from the French word 'niche,' meaning a recess or hollow in a wall used to display a statue. Over time, it evolved metaphorically to describe a specialized position or role in a market or environment. Did you know? Its use in business emphasizes finding a 'recess' in the market to serve unique customer needs.
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"The niche" appears in the Vocaplus list "English - Entrepreneurship - (A1-C2) - set 1", containing 110 commonly used words.
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