How to Win When Entering New Markets
How do companies consistently identify opportunities for growth and achieve success in new markets?
The answer lies in how they go to market.
As the Canadian economy de-industrializes, traditional manufacturers face relentless global competition and cost structures that aren’t sustainable. The solution for them lies in identifying new markets and new applications for their products, and securing profit through constant innovation.
Unfortunately, the track record for Canadian companies in new market development is poor. One in four new market entries fails. But that needn’t be the case. Successful innovators demonstrate that there is a way to enter new markets and succeed.
Here are 5 lessons on entering new markets gleaned from the winners.
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