Identifying Demand Gaps, Niche Markets And New Business Opportunities.
Market gaps are opportunities disguised as voids. A gap in the market is a place or area that current businesses aren’t serving.
Whether you are starting a small business or looking for growth opportunities in your current business, market gaps can be amazing sources of inspiration for your next big idea.
One common path to success for many small businesses is to find a niche market and establish a dominant position as a player in that niche. No large retailer can be all things to all people. Therefore, there will always be segments of the population whose needs for a particular product or services are unmet. This space is where a small business can penetrate a market.
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