Question

James lives near a university and observes that almost every student uses a cell phone. He decides to open a small shop offering repair services for cell phones. His shop is an instant success. James has satisfied an area of need called__________.

Answer 1

James has filled a 'market need' by establishing a cell phone repair shop in an area with high cell phone usage, capitalizing on the increasing indispensability of mobile phones in modern society.

Step-by-step explanation:

James has identified and successfully fulfilled a market need by opening a cell phone repair service near a university, where there is high usage of cell phones. This entrepreneurial action demonstrates an understanding of market demands and the ability to capitalize on them effectively. The rise of mobile phones not only in developed countries but also in areas like Sub-Saharan Africa has made cell phone services essential. The versatility and necessity of mobile phones for tasks ranging from communication, networking, banking, and information access have solidified their importance in modern society. As a result, services related to mobile phones, including repair, have become increasingly valuable and sought after, much like James's business endeavor.

Answer 2

Answer: An opportunity niche

Step-by-step explanation:

According to the given question, James open a small mobile repairing shop near the university and he is satisfied in an opportunity niche area.

As, the niche marketing is one of the opportunity that helps us providing the various types of products and the business services in the market. It is one of the target-able portion in the market as it focuses on the actual requirement of the customers.

It also provide various types of benefits such as establishing large business, reducing the level of competition and reducing the competition in the market.

Therefore, An opportunity niche is the correct answer.