A market entry strategy plays a crucial role in a business expansion plan. It helps in assessing the opportunity available in a new market. This includes understanding the value a user wants from a product or service and the opportunity that exists to service that market. For instance, an existing market might offer high opportunity based on past precedents, while an emerging market might offer high potential with less competition, providing a first-mover advantage. A market with minimal to no opportunity should be avoided to save resources.
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