According to some experts, this is one of the secrets to success in entrepreneurship:
Finding a profitable niche.
Not sure how to find a niche for your company? You should know these good niche ideas for your business:
5 niche audiences you’re missing out on
What is the meaning of niche in English?
A niche is a small, targeted group of customers. It’s a small market segment with a specialized need for a particular kind of product or service.
Here’s the definition of ‘niche’ from the Entrepreneur Encyclopedia:
“A portion of a market that you’ve identified as having some special characteristic and that’s worth marketing to.”
Source:
Advanced reading:
The “niche to win” strategy for startups
How do you pronounce ‘niche’ correctly?
There are two ways to pronounce the word ‘niche’:
-
/nɪtʃ/
If you pronounce ‘niche’ this way, note that the vowel sound is short.
-
/niːʃ/
In this second way of pronouncing the same word, you pronounce ‘niche’ with a long vowel sound.
I have heard professionals say both pronunciations, but I personally use the second option.
Click on the speaker icon in the flashcards to hear one way to pronounce ‘niche’ correctly (/nɪtʃ/):
What type of word is ‘niche’?
The English word ‘niche’ can be used as both a noun AND an adjective.
How do you use the word ‘niche’ in business?
This word is used quite frequently in business, especially in entrepreneurship.
‘Niche’ as an adjective:
- niche market
- niche marketing
- niche player
- niche product
- niche business
‘Niche’ as a noun:
- find a niche
- identify a niche
- serve a niche
- target a niche
Memorize the new word
Let’s practice
I would love to know from you: Which niche market is your business targeting?
Let’s exchange some ideas in the comments below!
Read also:
Business English vocabulary – white paper
Learn more Business English vocabulary
