A new market is a [[market type]] characterized by the absence of established customers and their defined needs, where a startup aims to introduce a novel product or service that creates a new demand or fundamentally transforms an existing way of doing things. This stands in contrast to an [[existing market]] where customers and competitors are already present. Unlike a [[resegmented market]], which focuses on serving a specific niche within an already established market, a new market seeks to create an entirely new customer base. Finally, it differs from a [[clone market]], which involves adapting a proven business model from another geographic location rather than pioneering a completely original market.