Evelyn launched a tiny business that catered to a very specific demographic. Evelyn's competitive advantage is her ability to target a niche market.
What is target market?
Customers that have minimal interest in your product and services are referred to as "target market" as well as demographics such as age, gender, income, neighborhood, geography, purchasing preferences, and so on.
A restricted or specialized market is referred to as a "niche market". The niche market now caters to a specific group of buyers. A niche market is a demographically targeted group of potential customers.
As a result, a tiny boutique business catering to fashion-conscious females is a niche market.
Learn more about on niche market, here:
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