ELI5: Explain Like I'm 5

Niche market

A niche market is when you make products or services that are specifically designed for a very small and specific group of people. It's like trying to find small pockets of people that other companies don't usually cater to, and then giving those people exactly what they want. For example, if a company only makes fishing reels for very experienced anglers that like to fish in deep lakes, then that company is going after a very specific niche market.
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