What is the term for a situation when there are no businesses meeting the needs of consumers for a specific product?

The term "Market Gap" is used to describe a situation where there are no businesses fulfilling specific consumer needs for a given product. This indicates a lack of competition and opportunity for new businesses to enter the market and provide the product or service that consumers are searching for. Identifying a market gap signifies potential for innovation and entrepreneurship, as it highlights unmet consumer demands that can lead to viable business ideas.

In contrast, "Market Opportunity" refers more generally to any favorable condition that could be advantageous for businesses, rather than specifically pointing out the absence of offerings. "Unmet Demand" focuses on consumer desires that are not currently satisfied but doesn't necessarily indicate a lack of market presence. "Product Shortage," on the other hand, implies that products exist but are unavailable in sufficient quantities due to challenges such as supply chain issues, rather than indicating that no businesses are addressing consumer needs in the market.