A ______ market is a small market segment comprised of customers with specific needs and requirements.
A)micro market
B)niche market
C)boutique market
D)target market

Question

Quizplus · Accepted Answer

A niche market is a smaller segment of a larger market with specific needs and preferences, often overlooked by larger businesses but valuable to smaller businesses targeting a specific demographic or interest group. A micro market is similar but usually even more specialized and narrowly defined. A boutique market typically refers to a small physical store offering specialized goods or services, rather than a market segment. A target market is a broader segment of a market that a company aims to reach with its products or services. Thus, the most appropriate answer is (B) niche market.

A ______ Market Is a Small Market Segment Comprised of Customers