Topic 1.4

a base of consumers with demand for a particular product or service;

where buyers and sellers engage in the exchange process

• market

• need

• want

• pricing

what are the characteristics of a market

• consumer base

• consumer buying

• business participation

• all of the above

select the key considerations for evaluating a target market

• market size and growth potential

• accessibility

• competition

• profit potential

• consumer behavior

specialized or unique segment of a broader market where the consumer base has unique interests, preferences, or needs.

• niche market

• niche product

• niche sports

a specialized product designed to meet the needs of a specific segment of a much broader market

• niche market

• niche product

• niche sports

sports that are not considered to be "mainstream"

• niche market

• niche product

• niche sports

select the niche sport

• basketball

• soccer

• baseball

• underwater hockey

would a marketer want a niche market, why?

• yes, so they'd be the only brand selling to them and they'd be the reliable brand

• no

what are characteristics of a niche market

• unique interests

• unique preferences

• unique needs

• all of the above

chose the niche sport

• softball

• lacross

• volleyball

• slapboxing