What Characterizes an Emerging Niche Market

question 25

Multiple Choice

What characterizes an emerging niche market?

• A) No customers are willing to try new products
• B) There are no customers in this niche
• C) There is no current niche
• D) No companies are addressing the needs of customers

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Definitions:

Standardize

The process of making something conform to a standard in order to ensure consistency and compatibility.

Localise

To adapt a product, message, or strategy to meet the cultural, linguistic, and consumption preferences of a specific geographic region or community.

Unidirectional Flow

A process or communication method where information or resources move in only one direction, from sender to receiver, without a reciprocal exchange.

Periphery

The outer limits or edge of an area or object, often referring to regions or areas that are marginal, less developed, or outside the mainstream.