The BIG question: Last lesson you learned about identifying gaps in the market. Sometimes gaps in the market occur because the market is growing meaning there is space for new businesses. Gaps in the market can also be in the form of a niche (pronounced neesh) market. Explain, giving an example if possible, what a niche market is.
callum says,
ReplyDeletea niche is a small gap in the market witch businesses can use to make profit. e.g. the veagan lunch box is a small niche in the food indestrie.
JackCANE:A niche is an example of a small gap in the market. It is used to make profit. But normally used by small business.
DeleteAngyus: A niche market is a type of market that has a small demand for certain products. These products might only be relevant for a small group of people
ReplyDeleteAndy; a niche market is a small gap within another market. e.g in the food market as the market for lunchbox food goes up there will be more demand for lunchboxes.
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James Steer -
ReplyDeleteA niche market is a small part of a large market.
eg. Vegan food in the food market.
Ersin says: A niche is a small gap in the market in which business (mostly small) use to make a profit.
ReplyDeletejake: says a niche market where theres is a small gap in the market and a prouduct can be sold to make a big proudut and a profit.
ReplyDeleteLeo; cat socks, defintely a niche market through the pet clothing market and the sock market. Only a very small amount of people would buy them, plus they'd be quite weird.
ReplyDeleteHayley Clancy says: A niche market is a small market within a big market. For example vegan lunch boxes are a small market in the big food market, so the big food market can appeal to all types of people even though the vegan community is rather small.
ReplyDeleteMatt says:
ReplyDeleteA niche is an example of a small gap in the market. It is used to make profit. But normally used by small business.
Muhammad.Ahmad
ReplyDeleteA gap in the market is small market is that there some brand make some thing and other brand make some different thing is called gap in the market.
Jordan G says:
ReplyDeleteA niche market is when there is a small gap in the market where a product can be made and sold to make a big profit for a small item in the market.