The niche market
Example: Niche market targets a specific group with specialized needs
Definition
"The niche market" refers to a specific segment of a larger market that focuses on a particular group of customers with specialized needs or preferences, often overlooked by mainstream providers. It targets unique demands to offer tailored products or services.
Etymology
The term "the niche market" combines 'niche,' originally from the French word meaning a recess or hollow in a wall to display a statue, with 'market,' derived from Latin 'mercatus' referring to trade or commerce. Did you know? The word 'niche' evolved metaphorically to describe a specialized place or role, perfectly capturing the concept of a focused market segment.
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"The niche market" appears in the Vocaplus list "English - Marketing - (A1-C2) - set 1", containing 110 commonly used words.
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