The entrepreneur's ability to identify a market niche that is being missed by other established firms or to identify a new market that has not yet been discovered by existing firms are important avenues of new venture creation.

Question

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Identifying a market niche or a new market is a common strategy for entrepreneurs to create new ventures that can succeed in an untapped or underserved market. This can be a key source of competitive advantage for new businesses that are able to meet the unique needs of a specific customer base.

The Entrepreneur's Ability to Identify a Market Niche That Is