An entrepreneur developed a service for which he believed there was a fairly small,but clearly defined,group of potential customers. He believed that he could design the service to fit those customers very well. This type of customer group is called a

Question

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A niche market is a small, specialized segment of the overall market that has unique needs or preferences. This entrepreneur has identified a specific group of potential customers that he believes he can serve very well, which is indicative of a niche market.

An Entrepreneur Developed a Service for Which He Believed There