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recognition (e.g. prestige, practicability, money saving, expensiveness, environmental conscience, or social status). When there are needs or desires with specific and even complex characteristics, the market niche requires specialized suppliers which are capable of meeting such expectations.
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Not every product can be defined by its market niche. The niche market is highly specialized, and aiming to survive among the competition from numerous super companies. Even established companies create products for different niches;
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Unlike mass audiences, which represent a large number of people, a niche audience is an influential smaller audience. In television, technology and many industrial practices changed with the
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has all-in-one machines for printing, scanning and faxing targeted for the home office niche, while at the same time having separate machines with one of these functions for big businesses.
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The final product quality (low or high) is not dependent on the price elasticity of demand, but the specific needs that the product is aimed to satisfy and, in some cases, aspects of
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is focused. The market niche defines the product features aimed at satisfying specific market needs, as well as the
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