Last updated: April 25, 2019
Topic: BusinessMarketing
Sample donated:

Marketing

 

The fascinating and enthralling world of marketing is a vast, large part of everyone’s lives today regardless of whom they may be. With numerous amounts of needs and desires we as people have  today, there is a lot of room for such markets to grow. However, in order for a particular market to  grow, it must meet certain qualifications.

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The managers of a global company are all too familiar with the steps they have to take to assure  that a foreign market will be permissible for introducing a new product. It is essential that all of the necessary precautions are taken before a major decision such as this is taken on. This is why there are several key factors that one can go over in order to clarify that a market is, in fact, viable.

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Firstly, one should familiarize themselves with the market entirely. This is to get a basi understanding of the location and it’s whereabouts to be able to fully and carefully decide if this market would be acceptable for the product.

 

 

Another vitally common role one would undergo would be to check previous sales histories of this market. Markets that have low previous sales histories would not necessarily be a sufficient enough choice, whereas a market that does, in fact have high sales histories would prove to be a good marketing strategy selection.

 

 

Aside from sales histories, one could also look at the types of customers that this market is directed to. If the product meshes well with the market’s audience than it may also prove to be a good selection. In other words, the market should match well with the product.

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In conclusion, before introducing a new product, managers of that product should carefully and precisely choose a specific market for that product first. There are various ways of which one could go about doing so. Overall, the product should match with the market.