When a product or service is new to the industry or is itself creating a new industry,it is referred to as a(n)_____ business.

Question

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A pioneering business is one that is introducing a new product or service to the market, or even creating a new industry altogether. They are the first to enter the market with their innovation, and often face many challenges and risks. The other options, such as entry-level or test, do not necessarily imply that the business is introducing something new or creating a new industry. Preselling may refer to a marketing strategy, but not necessarily a new business.

When a Product or Service Is New to the Industry