Development of a mass market is the stimulus for an industry to change from embryonic to growth.

Question

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A mass market refers to a large group of consumers with similar needs, wants, and buying habits for a product or service. When a market reaches this stage, it signals a shift from the early stage of development (embryonic) to a more mature phase of growth. The growth stage is characterized by increased competition, which encourages companies to innovate and improve products or services to stay relevant and competitive. Therefore, the development of a mass market can stimulate industry growth and drive change.

Development of a Mass Market Is the Stimulus for an Industry