A ______ market is a small market segment comprised of customers with specific needs and requirements.
A)mass
B)niche
C)multisided
D)diversified

Question

Quizplus · Accepted Answer

A niche market is a small segment of the overall market that caters to a specific group of customers with unique needs and preferences. This group of customers can be defined by demographics, psychographics, behavior, geography, or other characteristics. Niche markets are often underserved by larger companies and offer opportunities for smaller businesses to target specific customer segments and differentiate themselves from larger competitors. Mass markets, on the other hand, target larger groups of customers with more generalized needs and preferences. Multisided markets refer to platforms that connect different customer groups, such as Uber connecting drivers and riders. Diversified markets involve offering a wide range of products or services to different customer groups.

A ______ Market Is a Small Market Segment Comprised of Customers