Market Entry Strategy
A comprehensive plan for entering a new market, including regulatory considerations, competitive analysis, and customer acquisition tactics.
Implications
A comprehensive plan that outlines how a company will enter a new market, including decisions on target segments, entry modes, competitive positioning, and marketing tactics, often used to guide the successful expansion into new regions.
Example
Example: A tech startup devises a market entry strategy to expand into Southeast Asia, choosing to focus on urban areas with high smartphone penetration, partnering with local telecoms for distribution, and launching a targeted social media campaign.
Related Terms
Different from a market entry roadmap, which is more focused on the timeline and execution, a market entry strategy encompasses the overall approach and strategic choices made to succeed in a new market.
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