Description: The ‘New Market’ refers to a market segment that has been recently developed or is being targeted by a business. This concept involves identifying opportunities in areas that have not been fully explored or are undergoing transformation. New markets can arise from technological innovations, changes in consumer preferences, or the emergence of new regulations. The main characteristics of a new market include its growth potential, the need for adaptation by companies, and the possibility of creating products or services that meet unmet demands. The relevance of new markets lies in their ability to provide companies with a competitive advantage, allowing them to diversify their offerings and reach new customers. Additionally, exploring new markets can be crucial for the long-term sustainability of a company, as it fosters innovation and adaptation to a constantly changing business environment.
