13 Analyse how serving a niche market can help a small business to survive.

[M huzaifa jillani]

(KN)
Serving a niche market means focusing on a small group of customers with special needs or preferences.
(APP)
For example a small bakery that makes custom gulten free cakes can attract customers who cannot eat regular cakes.
(AN)
This helps the business survive because there is less competition larger companies usually focus on mass markets so the small business can build strong customer loyalty. Loyal customers are likely to return and recommend the business to others giving it a steady income and helping it survive even when bigger firms dominate the wider market.

[hassanalizafar]

[KN]Focusing on a niche market allows a small business to target a specific group of customers rather than competing with large firms in a mass market.
[APP]For eg, a bakery that only sells vegan/gluten free cakes faces competition from big brands that focus on regular products.
[AN]This enables the business to attract a loyal customer base which face less price pressure from competitors hence maintain stable sales to recover cost by which later on premium prices can be charged to inc profits.

[Shaliza khawaja]

As it serves a specific group of the customer, competition is low
for example a bakery selling gluten free items targets specific customers
this not only allows them to avoid competition but also gain a customer loyalty and also charge higher prices for there offers of customization and special product, which secures them more revenue per product and hence creating a stronger reputation

[sarah_naeem]

[KN]: Serving niche markets can help small businesses to survive as they have less competition compared to a larger market.
[APP]: For example, a bakery that only sells gluten free cakes faces less competition as compared to a larger bakery business that has variety of cakes as larger firms are not interested in a smaller market.
[AN]: Thus, this allows small business to dominate its niche and build loyal customers which strengthens the business's brand image resulting in higher revenue and long term success.

[Areeba Arshad]

[KN] A niche market focuses on a small, specific group of customers with unique needs or preferences.
[APP] For example, a small business selling handmade eco-friendly jewellery targets environmentally conscious buyers.
[AN] This reduces competition since large firms often ignore smaller markets ,allows the business to build strong customer loyalty through personalised products and helps it maintain steady sales and survive despite limited market size.

[Tuqwa]

kn:a niche market focuses on a small specialised group of customers with unique needs.
app:Serving a niche market can help a small business survive because there is usually less competition as large firms often ignore smaller markets.this allows the business to concentrate on offering specialised products or services that perfectly match customer preferences.
an:as a result the business can build strong customer loyalty and maintain steady sales even against larger competitors.