what is a niche market?
a small segment of the market that has a unique set of characteristics, focusing on a specific demographic
what does a niche market provide a business?
allows the opportunities to compete with larger businesses that may already have a majority
what is research and development?
the activities a business engages in to develop new services or products, improve existing services or products or evolve its processes
why are emerging technologies important?
businesses that invest in research and development and strive for innovation will develop, utilize or encounter emerging technologies
what are some examples of r &d and innovation?
new product development, new process development, process intensification, enhance existing products and absorption of new technologies
what is the point of emerging technologies?
for a business must constantly evaluate its activities and to re-evaluate its priorities and rethink the use of their technologies