Short answers, pulled from the story.
A niche market is a subset of a larger market focused on a small group of consumers with specific needs, while a mass market targets a broad, general audience. Niche markets are highly specialized, defined by particular product features, price ranges, and demographics rather than broad appeal.
Small capital providers opt for niche markets with narrow demographics as a measure of increasing their financial gain margins. By focusing on a specific group, smaller providers can compete more effectively than they could in a mass market dominated by large companies.
Yes. HP produces all-in-one machines for printing, scanning, and faxing aimed at the home office niche, while also selling separate single-function machines to large businesses. Established companies frequently create product lines for different niches alongside their mainstream offerings.
Quality in a niche market is not determined by price elasticity of demand. Instead, it depends on the specific needs the product satisfies and aspects of brand recognition such as prestige, practicability, money saving, expensiveness, environmental conscience, or social status.
Narrowcasting is a practice by television networks and production companies of targeting content and advertising toward smaller, specific niche audiences rather than large general ones. It allows advertisers to reach a more direct audience for their messages and has grown in the post-network era as viewer control over content increased.
Lifetime targets women, MTV targets youth, and sports channels including ESPN, ESPN 2, ESPNU, STAR Sports, STAR Cricket, FS1, FS2, and CBS Sports Network target sports enthusiasts. These networks are examples of niche audience broadcasting rather than mass audience programming.