Market-Entry and Competition

In order to succeed in the chosen market, the entrepreneur has to look carefully at the resources available, the product or service offered and the target market. Limitations typical to a start-up situation have to be overcome by innovation and stamina. Research has shown that the most successful companies take into consideration the various strategies available to them without narrowing themselves in any respect. While some strategies are simply incompatible due to their opposition to one another, there is no reason why a superior quality product or service can not be priced below the market, as long as the customer's perception of this superior quality is given.
No matter if the company is targeting a niche market or a broad market - growth is another key factor of success. Once the business is established and sustainable in its natural environment, it has to look beyond these limitations in order to increase profits. This may not always be easy and involves a continuous innovation process.
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