Developing a Market Entry Strategy and Product Launch
Ensuring a profitable launch and successful future
“Every company should work hard to make obsolete its own product line before its competitors do.” (Phillip Kotler)
A good idea for anyone managing a business is to target growth by entering new markets. It can help force problems to be resolved, competencies to be consolidated and the business to streamline and build efficiency. While growth in existing markets is desirable, it may encourage complacency and do little to build new competencies.
This toolkit provides a practical guide to entering new markets.
Length: 13 pages
Contents:
The Benefits
Action Checklist: Entering New Markets and Launching Products
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Target your market
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Understand your customers and consider market issues
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Prepare for market entry
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Focus on resources – what they are and how they interrelate
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Look for opportunities
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Develop a compelling product offer
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Consider the best price
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Work with suppliers
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Manage competitors
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Consider using strategic partnerships and alliances
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Choose the best market entry position
Avoiding Problems – this includes techniques to avoid potential pitfalls when planning a market entry or product launch.
Dos and Don’ts
Key Questions
Things You Can Do
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Preparing your marketing plan
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Choosing the best sales methods
Further Action
Further Information
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