Question

Write a brief essay that outlines some of the planning considerations you would give before deciding if your firm should or should not enter a particular country for a particular product. Why have you selected these considerations?

Answer 1

The key is identifying enough potential customers who feel like your product or service will improve their life or solve their problem. Make sure you communicate the problem your product solves directly to the customers

who have the problem. Don't want to sell yourself to the whole planet. Offer the demand for niches. From an corporate and marketing viewpoint, a target is more cost-effective and helps you to concentrate on a specific market with a laser.Think of the last time you had a problem. When you were looking for a solution, you actually bought the solution that fixed your dilemma the most. Be the right solution to the individual dilemma of your clients.

Examining both of these factors should put you one step closer to determining whether or not it is feasible to enter the market. If there are multiple competitive firms that have the bulk of the market share, it might not be the right choice to enter the sector unless you have a revolutionary force that can alter the entire makeup of the sector. You should search for a new sector to join if you only grab a small portion of the market share and do not plan to be able to expand the market in the future, but be careful to ignore disruptive factors. Uber, FedEx, and iTunes are also examples of firms that have been flipping old markets upside down.

It would be both impossible for you to stand out and impossible to get support if the competition is over-saturated with rivals. More specifically, you would need more money if you aim for a wide market than if you choose a more focused, niche market. It 's important for performance to consider the competition.

Ultimately, you should determine whether the value proposition you have is strong enough to smash through the noise and be appealing to your future buyers after you've established the niche, recognised a need, and analysed the competition. Bear in mind that price is not worth. Competing on price alone is very difficult. Features are often not worthwhile, which is why you hardly see Apple marketing its products' features (in most instances, Apple's competitors' products are more feature-rich).