Concentrated Market (Niche)

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Definition: Concentrated Market (Niche)

Concentrated markets or niche markets the narrowly defined consumer groups. A segment can be divided into various niches based on the different needs of different groups. The products in niche market are generally priced a bit higher, as they specifically meet the need of customers that is not met by other generic products.

 

Example:

Among toothpastes, Mesvak is a niche offering. It is specifically targeted at people who prefer natural toothpaste. Similarly, Dabur Red, Colgate Sensitive are some other niche offerings available in the market



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