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For decades, country j was known as the world's factory and earned a reputation for producing some of the highest quality electronics in the world. in the last decade, however, it saw a sharp decline in its manufacturing sector, both in terms of employment and output, while simultaneously experiencing a proportional growth in the size of its service sector. what term would best describe this scenario?

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lheduardomarques

The term that would best describe this scenario is that the company has been losing its market niche.

What is a niche market?

Niche market is a segmentation strategy – a specialized market, that is, a specific area in which your company can act and gain a high level of knowledge, becoming an expert in the field (reference for customers).

With this information, we can conclude that Market niches are segments or audiences whose particular needs are little explored or non-existent. It is a part of a consumer market, where buyers can be clearly identified by their specific needs, and which is generally under-exploited commercially.

Learn more about Market niches in brainly.com/question/27940470

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