Definition
The process of narrowing your target market to a smaller, more specific segment rather than trying to serve everyone. What pivoting looks like when you finally accept your TAM assumptions were delusional.
Example Usage
After failing to sell project management software to everyone, we niched-down to construction firms and actually found product-market fit.
Origin
Marketing and business strategy terminology, became startup mantra in 2010s lean startup era
Fun Fact
Most successful startups niched-down at least once, proving that 'everyone' is not actually a viable target customer.
Source: Startup strategy and marketing terminology
Related Terms
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See “niche-down” in Corporate Speak, Gen-Z Slang, Pirate Speak, and more.
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