Mass vs Niche Markets
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4 Terms
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What is a mass market?
A large market where products are targeted at a wide audience with broadly similar needs.
2
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What is a niche market?
A smaller market segment with specific needs and wants, often more specialised and less price-sensitive.
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Give one advantage and one disadvantage of operating in a niche market
✔ Less competition
✘ Lower potential for economies of scale
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Name a business that operates in both mass and niche markets.
Apple — mass (iPhone), niche (high-end MacBook Pro for creatives)
Note 
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