As Jake began his market research, he discovered that there wasn't another retail boating supply business for more than 100 miles. In fact, there was no large lake or river, either. Jake concluded that A. there was no market for his product.
If Jake is wanting to produce boats, sell boats or boating equipment but there was no boating supply for awhile out or a place to use the product, there was likely no market for it either. To have a successful product or service, there needs to be a market in which the product or service can thrive within. If there are no consumers, your product will fail.
