Niche Marketing is the art of focusing on a targetable portion of a certain market.
A niche market is the subset of a market on which a specific product is focused on, therefore the market niche defines the specific product features aimed at satisfying specific market needs, as well as the price range, production quality and the demographics that it is intended to impact.
When a business focuses on a niche market it is addressing a specific need for a product or service that is not being addressed by other providers. So in other words, niche marketing is targeting a narrowly defined group of potential customers.
For instance, instead of offering a "Cleaning Service", a business might establish a niche market by specializing in a specific area of cleaning such as a service for "cleaning blinds" or "cleaning carpets." So, rather than marketing the "broad range" of a cleaning service, you have a niche market by targeting one small area of the cleaning service spectrum.
Why would you want to establish a niche market rather than offering the wider range of services? Because of the great advantage of being the specialist there. Other small business owners may not be aware of your particular niche market and the larger businesses won't bother with it.
Niche marketing is a technique often used by affiliate marketers. By seeking out smaller segments of larger markets, a website can be developed and promoted quickly to uniquely serve a targeted and usually loyal customer base, giving the affiliate a small but regular income stream. This technique is then repeated across several other niche markets until a desired income level is achieved.
