Transformational new business arenas can be based on offerin

Transformational new business arenas can be based on offering a dramatically lower price point, analyzing alternative industries to find white space, offering systems rather than components, building on customer insights or market trends and by collaborating with other people and firms.

True or False

Solution

Transformational new business arenas can be based on offering a dramatically lower price point,analyzing alternative industries to find white space and offering systems rather than components building on customer insights or marketing trends and by collaborating with other poeple and firms.

The given statement is True.

Firms usually look for white space or the area where the need for a product or service is still unment and offer their product at a low price and keeps continuous innovation and collaboration to provide better service and for maximum customer retention.