ENTREPRENEURSHIP

Detailed explanation-1: -niche market is a place within a market segment that represents a narrower group of customers with similar interests. Generally, a niche can be defined by the unique needs, preferences, or identity that differentiates it from the broader market segment.

Detailed explanation-2: -A market segment is a group of people who share one or more similar characteristics. Corporations and marketing teams use various criteria to develop target markets for their products and services.

Detailed explanation-3: -Demographic, psychographic, geographic, and behavioral are the four pillars of market segmentation, but consider using these four extra types to enhance your marketing efforts.

Detailed explanation-4: -Market segmentation is the process of dividing a broad population into subgroups according to certain shared factors. These groups may have common demographics (age, gender, etc.), geographic location, attitudes, behaviors, or a combination of similar characteristics. A consumer may belong to multiple market segments.