You can select one of four major strategies to systematically create and develop new markets. One way is to start with a clean slate with unknown clients and unknown products. This is the most exciting way to take, but the most dangerous and risky; Path 2 is the provision of new products known clients; Path 3 is well-known products of unknown customers, and Path 4 is building a new market with well-known clients and well-known products - usually leads to expansion product line and runs the risk that you will be determined by your knowledge. The ability to create and dominate a new market offers the prospect of work without competition and margin expansion. However, the firm must choose the path that uses their knowledge. It is important to remember that the product is not just a device or service, but also the process of delivery, the client interfaces, and support systems. Examples of FedEx, AT & T, GlaxoSmithKline and other companies illustrate the advantages and disadvantages of each of the four paths to new strategies to market. "Hide
by Peter Meyer Source: Business Horizons 5 pages. Publication Date: May 15, 2002. Prod. #: BH074-PDF-ENG
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