Niche, mass markets and market size

  • Created by: HUSTLEAFG
  • Created on: 06-04-20 15:22

Niche market - Where a business targets a smaller segment of a larger market where customers have specific needs and wants


less competition

Clear focus

Builds up specialist skill and knowledge

Can often charge a higher price

Profit margins are higher

Customers tend to be more loyal


Lack of economies of scale

Risk of overdependence on a single product or market

Likely to attract competition if successful

Vulnerable to market


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