MANAGEMENT

Detailed explanation-1: -A niche market is a segment of a larger market that can be defined by its own unique needs, preferences, or identity that makes it different from the market at large. For example, within the market for women’s shoes are many different segments or niches.

Detailed explanation-2: -Segments can be divided into even smaller groups, called subsegments or niches. A niche is defined as a small target group that has special requirements. For example, a bank may specialize in serving the investment needs of not only senior citizens but also senior…

Detailed explanation-3: -A niche market is a smaller segment of a larger market. In niche markets, customers tend to have very specific wants and needs.