A small but specific and well-defined population segment is the focus of this concentrated marketing effort. As a strategy, niche marketing is aimed at being a big fish in a small pond instead of being a small fish in a big pond. Niches do not ‘exist’, but are ‘located’. Identifying needs, wants, and requirements that are being poorly addressed or not at all by other firms is the way. Developing and delivering goods or services to satisfy the niche becomes the focus.
Black’s Law Online Dictionary
