Niche markets
What Niche markets means in Economics B A-Level, as defined for Pearson Edexcel.
Definitions of Niche markets
Exam boards and our study guides word this term in slightly different ways. Learn the version your board uses.
Check what you remember
Read the wording for your board, then hide it and explain Niche markets in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: Pearson Edexcel
Specific, well-defined segments of the market with distinct needs that small firms target, catering to consumer preferences that mass-market producers ignore.
Markets where products are specialised for a specific segment, making demand more price inelastic.
Topics that use Niche markets
- How small firms compete (Pearson Edexcel A-Level)
- Price mechanism (Pearson Edexcel A-Level)
Related terms
- Capacity utilisation
- Competitive advantage
- Market dynamics
- Price elasticity of demand
- Price mechanism
- Product differentiation
- Profit maximisation
- Profit motive
Using Niche markets in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
Practise Economics B questions
Create a free account to answer exam-style questions on this topic and get feedback on your answers.
A week of Premium from your first lesson · Then the free plan continues · No card, no charge