Quite simply, a niche is defined as “a situation or activity for which a person or organization is especially well suited.”
Interestingly, many “online experts” define a niche market as an under served group.
“Establishing a niche market give you the opportunity to provide products and services to a group that other businesses have overlooked.”
ThisÂ is “magic fish” thinking.Â Â Trying to find the market that has been “overlooked” is a DISASTER waiting to happen.Â Typically, the market that has been “overlooked” has been overlooked for a reason.
The reason you should define a niche market for your product or service is NOT so you can “discover” untapped “markets”.Â The reason you should define a niche market is so you can create compelling content for your marketing messages.
When you’ve defined your niche market, suddenly your options narrow, your vision becomes focused and the extraneous falls out of view.