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Niche vs Market

by cipha
5 replies
Can someone explain to me the difference between a niche and a market. I seem to get these two confused or are they used interchangeably?
#market #niche
  • Profile picture of the author AZMD
    niche
    /niCH/
    Noun
    A shallow recess, esp. one in a wall to display a statue or other ornament: "each niche holding a shepherdess in Dresden china".
    Verb
    Place or position (something) in a niche: "these elements were niched within the shadowy reaches"; "decorated with niched statues".
    Synonyms
    recess - alcove - bay

    mar·ket
    /ˈmärkit/
    Noun
    A regular gathering of people for the purchase and sale of provisions, livestock, and other commodities.
    Verb
    Advertise or promote (something): "the product was marketed as “aspirin.”".
    Synonyms
    noun. mart - bazaar - marketplace - trade - fair - outlet
    verb. sell - vend
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  • Profile picture of the author Jerry Belcourt
    Cipha,

    They are used interchangeably. One way to look at it is like this:

    A market is the large mass of people interested in a topic such as health & fitness, fashion or finance, etc.

    A niche is a smaller, more tightly focused market inside of those big markets.

    For example:
    > Health & Fitness is a HUGE market.
    > Inside of Health & Fitness there are a ton of smaller markets/niches such as
    Weight Loss
    > Inside of the Weight Loss market are other smaller markets/niches such as
    Weight Loss over 40, Teenage Weight Loss, Weight Loss after pregnancy, etc.

    But, yes the terms market and niche are mostly used interchangeably.
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  • Profile picture of the author jclindayag
    Hi cipha!

    To put it in simple terms, market is a more generalized term. It can mean anything as a whole. On the other hand, a niche is more specific. It describes the category that you are in. Such examples are the dentistry niche. plumbers niche, seo niche, etc. While market can pinpoint the people within that niche.

    Hope this helps.
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  • Profile picture of the author Hani D
    Weight loss is a market but "weight loss for men, weight loss for women, weight loss for women after pregnancy and so on....."those are niches.

    Originally Posted by cipha View Post

    Can someone explain to me the difference between a niche and a market. I seem to get these two confused or are they used interchangeably?
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  • Profile picture of the author cipha
    Thanks :-)
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