Analysis Of Market Entry Strategies: Pioneer And Late Arrivals

If you are interest to do the new business or to expand your existing business, so you need to find out the facts before you start your business, such as what kind of products or services you produce, what is the customer needs, what is the market condition, who are the your competitor, how much they got the market shares and other facts. As a new comer of the existing market, you should use new the planning strategies, market entry strategies and marketing strategies to compete the pioneer of the market and existing market shareholder. On the other hand, you are the pioneer of the existing market; you need to know how to face the late arrivals and how to maintain the market position. The article of the “Market Entry Strategies: Pioneer versus late Arrivals” written by Gurumurthy Kalyanaram and Ragu Gurumurthy discuss the
Pioneers need to be projected the potential entrants and increase the some barriers to their entry by reducing the price, decreasing the business value and changing the marketing strategies.
Later comers’ point of view, they can try to get the market position by accepting distinctive positioning and marketing strategies. New entrants can use the innovative ways to market their new products and service. Not only pioneers but also late comers need to understand the defensive strategies and entry strategies, a good sense of timing and a game plan for decision making.
Basic Strategic Planning
Competitive strategies depend on the market environment and positioning and product portfolio of the existing market player. These are some basic facts to consider for new entrants to create the market positions.
• Reduce price to penetrate the new market
• Innovate the product or service to attract the consumers
• Target new geographic market for existing products
• Develop new channels of distribution to penetrate the new