In "Little Women" by Louisa May Alcott, the quote "Home is the nicest word there is," helps to emphasize the importance of setting in the plot. The novel revolves around the March family and their home in Massachusetts, highlighting the significance of their domestic setting in shaping the characters and their relationships. Through vivid descriptions of the family's cozy home and the interactions that take place within it, Alcott creates a sense of comfort and warmth that brings the characters and their experiences to life. The setting of the March family home plays a crucial role in establishing the familial bonds and dynamics that drive the story forward, making it an integral aspect of the plot.