Question 55. Describe Niche Market?
Niche Market is a specific part of the market that a seller is focusing. This market is normal overlooked or ignored by the larger section of the producers. The small sellers may try to tap the potential of this niche market but normally fail due to cost factor. Niche market is concerned about customizing the service or product to meet the specific need of the consumer. As such the cost factor may at times go up.
