market niche

Small segment of a market that is particularly suitable as a target audience for a specific product. Generally a market niche offers significant potential for sales of the product and is often free of competitors for the particular product. For example, an automobile manufacturer may produce a car that is substantially less expensive than its competitors and that appeals only to those consumers in the vast automobile market who are interested in purchasing an inexpensive automobile. Although the target audience for the inexpensive auto represents only a small percentage of the total number of automobile buyers, the audience is still substantial enough to allow the auto manufacturer to carve out a niche and make a profit.