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BUSINESS
Marketing Strategy
Niche Market Success
Small markets can yield big profits when customer needs are precisely met
12 days ago
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Why can focusing on a niche market lead to higher profitability despite smaller customer volume?
Because niche markets always have more customers than mass markets.
Because niche markets allow businesses to tailor products and pricing to specific customer needs, reducing competition and enabling premium pricing.
Because niche markets require less understanding of customer preferences than broad markets.
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