In 1998,U.K.-based retailer Marks & Spencer closed its office in Shanghai and tabled plans to commence operations there.After 3 years of research,they concluded that the timing is not right.The majority of their customers are from middle-income groups.Within a decade,however,China's emerging middle class represented an attractive opportunity.Marks & Spencer opened its first store in Shanghai in 2008;by 2017,there were 10 stores.However,when its sales stalled,the company pulled out of China for the second time.Part of the problem: low brand awareness,plus the fact that many Chinese shoppers preferred "fast-fashion" brands such as Zara and H&M.China was considered as a(n) ________ market in both instances.
A) latent
B) incipient
C) cluster
D) existing
E) primary
Correct Answer:
Verified
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