For companies seeking growth, entering a new market is a tempting strategy. Sometimes the new ventures are far afield from the segments currently served. Other times, adjacent markets are attractive because of the seemingly lower-risk opportunities they afford. But whether distant or close in any sense, forays into new markets often present unforeseen challenges.
What’s the best way to assess whether entering a new market is an opportunity or a trap?
Stephen Wunker, whose Boston-based international consulting firm New Markets Advisors has helped many businesses innovate, notes…
