For companies seeking growth, entering a new market is indeed an appealing strategy.
Sometimes the new ventures offer far more opportunities from the segments currently served; while at other times the neighbouring markets are attractive because of the seemingly lower-risk opportunities they offer.
But whether distant or close in any sense, forays into new markets often present unforeseen challenges.
If you are unsure whether you have the right market positioning strategy or not, then it is essential you evaluate these four success factor – company uniqueness, current market position, competitor positioning analysis and lastly target customer segment.
