market-entry

Vocabulary Word

Definition

'Market-entry' refers to the strategy or plan a company uses when it wants to sell in a new market. It's like finding the best way to introduce yourself at a party where you don't know anyone.

Examples in Different Contexts

For startup strategy, 'market entry' involves the methods startups employ to launch their products or services in a competitive market. A startup founder might discuss, 'Our market entry plan includes aggressive digital marketing and strategic partnerships to quickly establish a foothold.'

Practice Scenarios

Marketing

Scenario:

The youth segment is showing a lot of interest in our new product line. Their purchasing power cannot be overlooked.

Response:

I agree. We should develop a market-entry strategy targeting the youth segment with our new product line.

Business

Scenario:

There is a growing demand for our products in the Australian market. We need a solid plan to expand there.

Response:

That's a great point. Let's discuss potential market-entry strategies for Australia in our next meeting.