Nascent markets are small, newly developing market

Market

A market is one of many varieties of systems, institutions, procedures, social relations and infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services in exchange for money from buyers...

s. Companies can exploit nascent markets three ways: by making the company and market synonymous, by creating a clear perimeter for the firm by demarcating the market, with the use of alliance

Alliance

An alliance is an agreement or friendship between two or more parties, made in order to advance common goals and to secure common interests.See also military alliance and business alliance.-International relations:...

s and controlling the market by setting applicable standards and utilizing acquisition

Mergers and acquisitions

Mergers and acquisitions refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling, dividing and combining of different companies and similar entities that can help an enterprise grow rapidly in its sector or location of origin, or a new field or...

strategy.

Reference:
http://www.business.ualberta.ca/tcc/documents/TII_6_Zott_QNHuy.pdf