Given below are two statements :

Statement I: Pivoting in a startup context refers to changing the business model or strategy in response to market feedback.
Statement II: Pivoting always involves changing the target market essentially.

In light of the above statements, choose the correct answer from the options given below:

In business, pivoting is a strategic change in a company's direction, product, or business model in response to market conditions, customer needs, or other external factors. Statement I describes pivoting correctly and is true. Statement II describes a mechanism by which a business actualises pivoting, saying that it is 'essential' that a business change the target market while pivoting, which is wrong. While changing the target market can be one of the things that an organisation does while pivoting, it need not be essential or compulsory. Statement II is wrong. The correct answer is option C.