A "new market" refers to a segment of the economy that has recently emerged or is developing, often characterized by unmet consumer needs or innovative products. This can include industries like renewable energy, technology startups, or healthcare innovations. Companies often seek to enter new markets to expand their customer base and increase revenue. Entering a new market typically involves research to understand consumer preferences, competition, and regulatory requirements. Businesses may adapt their products or services to fit the unique demands of the new market. Successful entry can lead to significant growth opportunities and a competitive advantage in the industry.