Sample Answer for Using this case as an example, explain what is meant by a niche market (4 Marks)

A niche market is a small market segment – a segment that has sometimes gone 'untouched' by larger businesses. Niche marketing is the complete opposite of mass marketing. It involves selling to a small customer group, sometimes with specific needs. Small firms can often survive by supplying niche markets. In this case, Drybar targets a niche market. Drybar specialises in the provision of affordable, high-quality blowouts. This is when a client's hair is washed and blow-dried into style without being cut or coloured. Drybar is set up like a bar where clients can relax, watch a film and get a blowout. This service is different from the majority of hair salons in the market.