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Targets the general population with broad appeal.
Caters to specific consumer needs not met by mass markets.
Mass markets aim for a wide audience; niche markets focus on specialized segments.
Economies of scale and high revenue potential.
High competition and need for product differentiation.
Subject to rapid changes in consumer preferences and competition.
Encourages efficiency and responsiveness to consumer needs.
Risk involves known probabilities; uncertainty involves unknown outcomes.
Total sales volume or value in a market.
Sales of a business divided by total market sales, expressed as a percentage.
Lower operational costs and direct access to consumers.
Higher distribution costs and reliance on website reliability.
Need to adapt quickly to changing consumer tastes.
Ensuring safe working conditions and no child labor in supply chains.
Increases market share but may lower profit margins.