A business strategy (specifically, a distinct form of the ecological niche) that focuses on a unique and specialized knowledge of a market (rather than a product or service). As a one distinct way of applying the broader niche strategy, a company, following the specialty market strategy, is relatively small and unknown to the broader market. By so doing, it tries to introduce a common product to a very special market (specialty market), that will meet specific customers’ needs and allow the company to earn big profits.

A text-book example of this strategy is travelers checks, that appeared in the post—World War II period of mass travel. A the beginning, the market was not large enough to attract many players, other than a couple of first-moving players (Cook and American Express). Furthermore, travelers checks required a world-wide organization and network, which incumbent players had to provide for in order to cater to the travel needs of their customers in an innovative way, and which no other players were interested in at the time.

The major threat to such a strategy, however, is its wide-spread adoption, which deprives it of any special advantages to existing players.