Question 4: What are the new market’s buying habits and how can these be exploited?
Knowing the buying habits of a market is critical for any business hoping to sell in that market. This is what we’ll discuss in this post, the fourth in our market assessment series.read more
Question 3: How well do our services fit in the market? Is it possible to create a new market for our services?
In this third part of our market assessment series, we’ll talk about the importance of a company’s products or services “fitting” in the new market. Will Caldwell, founder and CEO Dizzle explained on Entrepreneur Magazine that it is a challenging and time consuming process that requires businesses to get a deep understanding of their target market.read more
Question 2: Conservatively speaking, how much market share can we take and what’s that worth to our company in terms of finance and other factors?
This is the second post of our market assessment series that explores the questions a company must ask when analyzing a new market. In the first post, we talked about the importance of knowing a market’s current and potential size.
Moving on, we’ll now look into the importance of ascertaining how much share a company can take in a new market in which it is planning to expand.read more
Question 1: What is the market’s current size? And what is its potential size? Will the market expand or contract, and why?
This is the first of an 8-part series focusing on the questions a business should ask when assessing a new market.
The ability to carefully estimate the market size is crucial to successfully entering a new market. Too many business owners rush into a new market with the assumption that everyone will use their services or buy their products.read more