Scenario: Connie's Corner Caf$$

Connie decides to open "Connie's Corner Caf$"$ and finds the ideal location for her venture. However, it appears that Connie will have to approach investors or bankers for financial backing. When she talks to her local bank manager, Mr$.$ Johnson, he immediately asks for Connie's business plan. Connie is in trouble because she does not know what a business plan looks like.

When a product or service is new to the industry or is itself creating a new industry, it is referred to as a$($n$)$ business.

proof$-$of$-$concept

new entrant

pioneering

test market