What is Niche Marketing? | From A Business Professor

Hello everyone, welcome to Business School 1o1.The term "niche market" is often used in business and marketing to describe a specific segment of a larger market that caters to a particular group of customers with distinct needs, preferences, and interests. The word "niche" is derived from the French word, which originally referred to a small recess in a wall to place a statue, but metaphorically it came to describe a specialized market segment. So What are the unique features of a niche market? Are there any real-world examples? How can niche marketing strategies be effectively applied, and why is this approach so crucial? In this video, I will discuss these questions with you.