michaelbentos's blog

Entrepreneurs can learn from Niche Marketplaces

Entrepreneurs can learn from Niche Marketplaces

Niche marketplaces are market segments which come about in response to unfulfilled consumer needs. The first step is to identify pain-points or gaps in consumers' professional and/or personal lives and then find ways and means to resolve those problems/fill the gaps. A good example of this is what was done by Hotel Tonight. They identified a need to provide last-minute booking services to customers operating on mobile devices. In just three clicks, a client can find affordable deals and book hotel rooms in different locations at whatever time.