How to identify a new market for a product/service?

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Assess your audience (customers) and needs. Needs create opportunities

Check if any cross selling of your product or service has happened within your current sales activity and see if any of your product/service has reached a particular market and being well received or appreciated in that market, than that is your starting point in moving towards new markets Also assess demands for your product or service in different markets through research and then target those markets

1. Understand of how the specific industry / market is structured

2. Idea of the predicted demand for the product or service

3. Competitor Analysis and how plan position in that market place

4. The best way to make the product or service attractive to customers

To identify new market, survey on market first then identify their need then check purchasing power of the customer then check competitors presence etc.