Resources
Questions to think about when considering entry into new markets for existing products or services:
Market questions
- Are there differences in the market definition by region?
- What is the size of the overall market by region? What is the size of the addressable market?
- Is the market growing, maturing or declining, analyzed by region?
- How is the market segmented?
- What are the basic market trends? Are there differences by region?
- Are there any barriers to entry – cultural, legislative, technological, etc.?
Potential customer questions
- Who are the decision makers? Are they different than your current customer base?
- How are the target customers likely to buy your products and services?
- How do your products or services meet and exceed potential customer requirements?
- Are the major customer benefits from using your products or services in this new market different from the markets where you are already established?
Competitor questions
- Are the competitors different in this market compared to the markets where you are already established? Do they differ by region?
- Are there one or two entrenched competitors with significant market share in any region? In any market segment?
- Are there any emerging competitors that may be a threat in this new market?
- What are your competitive differentiators in this new market? What are your competitive advantages?
Information Sources
The following links are examples of mostly-free reference sources:
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