the niche concept

A niche refers to the specific role or position an organism or business occupies within an ecosystem or market. It involves how they survive, where they live, what they consume, and how they interact with others. In nature, a niche helps different species coexist by reducing competition. For businesses, identifying a niche means focusing on a particular segment of customers or a specialized product offering to stand out and meet unique needs. Essentially, a niche is a defined space—ecological or market—where an entity can thrive by catering to specific requirements or preferences.