19 Jun 09
10 Jul 10 10:36 pm
The two are used interchangeably, however, they can be defined differently depending on who you talk to. this helps to add to the confusion that you feel.
A market can be defined as a specific group of products and information to help solve a defined problem. For example, relationship advice. There are a lot of books, and services on relationship advice. learning the market would consist of learning the information within these products.
A niche is defined as a specific group of people looking for a solution to a specific problem( ie the customers for your market)
within the relationship market there are many niches to target. you can target people looking to get their ex boyfriend back, win back their ex girlfriend, or heal and move on after a breakup. you could be looking to save your marriage after infidelity, or catch a no good cheater in the act.
All of these fit under the relationship market, but the specific problems they are facing require differences in how you market a product to them.
another example of a market would be dog training. There is a wealth of knowledge in this market online. however, they may be in the niches for : agressive german sheppard, poodles digging up the yard, or a shiatsu needing potty training. These are specific breeds, and problems that people would face.
Again the more focused you are with your niche, the more likely you will be able to convert sales. however, if you focus too tightly, you may have trouble finding enough keywords to fill out a website.
hope this helps.
Your Focus Determines Your Reality