market assessment

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Customers, Markets and Relationships: Creating Value for Business Development | Extraordinary Business

As crucial as business development is, it is one of the most ambiguous and divisive concepts in the business world. If you ask ten business development VPs (or similar level execs) about it, you can get just as many different answers. Their responses will peg business development to different elements ranging from “sales” to “partnerships” to “hustling”! And they may all be right in their own way. This begs the question, what exactly is business development?

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Market Assessment Series: Part 8 | Extraordinary Business

Question 8: Which customer organizations should we target first?

We started the market assessment series to take a deeper look into the best ways to analyze a new market when entering it. From market size and segmentation to competition and profit margins we discussed many crucial aspects of market assessment. In this 8th and final part, we’ll discuss the importance of understanding your ideal customer.
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Market Assessment Series: Part 7 | Extraordinary Business

Question 7: What sort of margins are expected in the new market and how do these compare to the overall margins in our company?

In the previous article we discussed the matter of sizing up competitors in the new market. In this seventh part of our market assessment series, we’ll look into another crucial aspect – profit margins.
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Market Assessment Series: Part 6 | Extraordinary Business

Question 6: Who will our competitors be in the new market? Why do customers buy from these market players? And above all, what do we need to do to make them buy from us?

In the sixth part of our market assessment series, we’ll discuss one of the most crucial aspects of entering any market – the competition. Who will your company, your products and services be competing against? You should also know why people are buying from these market players. And of course, you must find out what it is you need to do to make them buy from you and drive customer satisfaction.
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Market Assessment Series: Part 5 | Extraordinary Business

Question 5: What are the different market segments? Do we need to enter in all or just a few of these segments? Which segments are expanding and which are shrinking?

Market segmentation is a crucial part of a marketing strategy, especially one being utilized when entering a new market. In this fifth part of our market assessment series, we’ll discuss the importance of market segmentation.
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Market Assessment Series: Part 2 | Extraordinary Business

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.
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