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

In marketing, 'market entry' is crucial for introducing new products to consumers and gaining market share. A marketing manager might outline, 'We're focusing on influencer partnerships and social media campaigns as part of our market entry strategy for the new product line.'

Practice Scenarios

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.

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.