A business can mitigate the risks associated with market entry by conducting thorough market research, understanding the target audience, and developing a robust market entry strategy. This strategy should consider the product lifecycle, from introduction to mass adoption to maturation or decline. It's also important to be prepared for changes in buyer's values over time. However, results aren't guaranteed and businesses should be prepared to adapt their strategies as necessary.
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Is your business eyeing a new market? Use our Market Entry Strategy presentation template to discover if a market expansion investment is worth it. Wh...
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Because buyer's values change over time, value migration charts plot value changes of a typical product lifecycle from introduction to mass adoption to maturation or decline. While results aren't guaranteed, it's good to use these exercises and preparations to guide your market entry strategy. (Slide 4)