An existing market is a [[market type]] characterized by a well-defined customer base with known needs, and numerous established competitors already offering solutions. Companies entering an existing market typically aim to provide better performance or capture market share from incumbents. This differs from a [[resegmented market]], where the focus is on carving out a specific niche within an existing market by targeting underserved customers with a tailored value proposition, or a [[new market]], where the company seeks to create demand for a completely novel product or service among customers who may not even realize they have a need. Lastly, it contrasts with a [[clone market]], which involves taking a successful business model from another region and adapting it to local conditions rather than competing directly within an already crowded existing market in the same geography.