The first step to accessing markets is understanding where the opportunities lie. This requires a deep dive into market research - identifying potential gaps, assessing customer demand and analysing the competition. Begin by evaluating current markets and considering whether there are under-served segments that could benefit from your offerings. For example, a tech company might explore expanding its product into a market where digital infrastructure is growing but remains relatively unexploited.
Understanding market potential also involves keeping an eye on industry trends. Are there emerging technologies, regulations, or shifts in consumer behaviour that could open new doors for your business? If so, align your strategy to seize those opportunities. This might mean adjusting your product offerings, repositioning your brand, or even innovating entirely new solutions to meet emerging demands.
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