The Low Cost of Setting Up a Virtual Retail Presence

question 107

True/False

The low cost of setting up a virtual retail presence on the Internet makes it possible to serve minuscule niche markets.

---

Definitions:

Hierarchical Organizational Structures

Organizational frameworks where entities are ranked one above the other based on authority and responsibility.

Gig Economy

A labor market characterized by short-term contracts or freelance work as opposed to permanent jobs.

Unique Selling Proposition

A marketing strategy that highlights the unique benefits or characteristics of a product or service that set it apart from competitors.

Market Logic

The principles and dynamics through which market economies determine the allocation of resources, prices, and other economic variables.