Top 10 Strategies to Successfully Enter New Markets Webinar by: Connie Palucka To make us understand the complexity and procedures that can be done when entering a new market, our professor, Dr. Velita, tasked us to watch the recorded webinar uploaded on the CatalystConnection channel on youtube. The webinar was entitled Top 10 Strategies to Successfully Enter New Markets which was clearly explained by the speaker, Connie Palucka. As the title is telling us, the recorded webinar discussed tips for successfully entering a new market. Throughout the webinar, the information shared by the speaker made new market development processes clear to us even more, considering that this concept is new to us. To start off, Palucka said that the very first thing to do upon entering a new market is to define the current market of the business. This can be accomplished by examining the company's current customer base and researching the competition. Marketers have to evaluate them and wei...
Blue Ocean Strategy, Create New Markets and Leave the Competition Behind by: Renée Mauborgne As part of our midterm requirements in the New Market Development course, our professor, Dr. Velita, asked us to watch a video uploaded on youtube by World of Business Ideas entitled Blue Ocean Strategy, Create New Markets and Leave the Competition Behind which was shared and explained by Renée Mauborgne. As the title suggests, it talks about the strategy used in creating new markets called the Blue Ocean Strategy. However, the video also introduced another pattern of marketing strategy called Red Ocean and Mauborgbe clearly differentiated the two which made us learn a lot of things. Blue Ocean and Red Ocean Strategies are marketing strategies named after the patterns found by the researchers, wherein the speaker is one of them, to denote the market universe. The problem of their investigation was to determine the difference between those who succeeded in the industry and those who did not...