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Market Niche

Market niche is a small but profitable segment of a market suitable for focused attention by a company. Market niches do not exist by themselves, but are created by identifying needs or wants that are not being addressed by competitors, and by offering products that satisfy them.

Market Share

Percentage or proportion of the total available market or market segment that is being serviced by a company. It can be expressed as a company's sales revenue from that market divided by the total sales revenue available in that market. (Carlton O'Neal)

Marketing Mix

Planned mix of the controllable elements of a product's marketing plan commonly termed as 4P's: product, price, place, and promotion. These elements are adjusted until a right combination is found that serves the needs of the product's customers while generating optimal income. Sometimes the first P (Product) is substituted by 'presentation'.

 

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