ENTREPRENEURSHIP

Detailed explanation-1: -A niche market is a very specific segment of consumers who share characteristics and, because of those characteristics, are likely to buy a particular product or service. As a result, niche markets comprise small, highly specific groups within a broader target market you may be trying to reach.

Detailed explanation-2: -A niche market is a segment of a larger market that you can define through its unique needs, preferences, or identity. For example, vegan face wash is a niche market in the face wash market. No matter what market you look at, you can almost always refine this further and create a series of niche markets.

Detailed explanation-3: -A Niche market refers to a customer segment with highly defined characteristics. This segment requires a highly tailored product, custom made to suit their needs. Therefore the value propositions, channels ad customer relationships are tightly defined by the preferences of this particular customer segment.

Detailed explanation-4: -Conscious consumers. Health and wellness. Pet owners. The LGBTQ+ community. Travelers. Gamers. Homeowners. Remote workers. More items •12-Dec-2022