Why New Markets Are Required For One's Product?

By Author: aniketdicosta
Total Articles: 139
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Before one understand this mystery , three factors are to be known for revealing the mathematics of any market players :
a) Demand and Supply
b) Quality at competitive rate
c) Growth for survival in tough competition
I remember , last Saturday I got a call from a senior president of a MNC , saying that I am looking for new market but cant make as to where shall I go for and especially when the management is insisting for fast set up of new supply chain in new markets but I am afraid with global melt down of economy , since , it has broken the backbone of every company irrespective of country.
I started to deal the situation with certain things which I am just reiterating so that some one can use it as to why new markets are required . New Markets can be set up by adopting any of the ways as is practiced by the global players :
a) Setting up a subsidiary unit
b) Making up channel sales force
c) Making business associates
d) Making assignment based agents
e) Generating continuous leads for business deals
People may choose as per their best economy , nature of business ...
... and longetivity of business interest. But, the gentleman was sounding over enthusiastic and even said ,.yes , Mr. Becker , I know this all but my problem is still as such and repeated it as well for times .This made me to finally ask him to accompany me over tea which longed to dinner.
In our first sitting , he had a very long brain storming session and he was only interested to know an answer to why ? instead of knowing how to do it so , let us name it Why Session Why Session New Market means more business and new business as well. In other words means more profit and revenue irrespective of its sustainability .
Again the same question cropped as to why new market, of course! For this I am paid for and companies make business out of such advises.
a) What is the meaning of new market?
b) How to explore new market?
c) Which market will be the best new market?
The market can be explored with better pricing with best quality , since the golden rule is quality should always command the pricing factor and pricing factor always follow quality factor . Since, both are incomplete without each other and compliment vice versa.
As already said , the new market could be explored with new subsidiary , joint venture, partnerships, business associates, deployment of work force or even without substantial investment by way of continous generation of business leads , may be a B2b platform or b2b portal can get business leads for you like www.made-from-india.com ,which I recently saw and seems to be a promising one for global traders and exporters .
Exploring new markets can be even by way of launching your product in unexplored areas of one's country and even exporting the product to a particular country where best demand is there . The result will be more demand will always give better pricing factor. Ofcourse, such markets will be the best market to be explored since business is done for profit and the market which can give more profit will always be the best market whether it is new and unknown as well. Say , a ball pen has the best quality over the existing ball pens in its segment and usage, but unless not being sold in better market will always get less revenue over inferior ball pens which are in best market where the demand is more for ball pens and for quality .
After listening such simple things , the gentleman said , Mr Becker even I knew this but you made me understand the simple analogy and now I am sure to give some promising result to my management. We shall be discussing other aspects of other sessions in due course of time , meanwhile , simply understand the fact that business is for profit and it is always dominated by demand and supply .
The author is business editor with www.made-from-india.com

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http://www.made-from-india.com/article_detail.php?artid=73