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Proposal for Investigating New Markets

In: Business and Management

Submitted By sophiew3
Words 426
Pages 2
Proposal for investigating new markets

Reasons for researching new markets:
Since our current market is saturated, it is high time to look for new markets, before our competitors do. Therefor we should not only look in the east but also into another field.

Types of markets we might break into:
With our current products we can not only keep the heat in but we could also use it as a sound insulation without further adjustments. Since the market in Germany, Switzerland and Austria is sated, we should check out Poland, Czechia, Bulgaria and some other eastern countries.

How the research should be done:
First of all we should check our competition. We need to make sure, that we would be one of the first to provide this kind of product. Next we should concentrate on the legal part. What requirements do sound insulations have to meet? It is highly recommended to search for potential customers and get in touch with them for the first time. We need to know what they would expect of the product and also what kind of service they would like to have. Then there is the occupancy rate of the manufacture to be beard in mind.

The resources which will be needed for carrying out the research:
Most of the data we need, we already have. To research the customers I would need an addition of 5 other members. Other resources we would need would be cell phones to call eastern companies. This should be thought of, since it would cost a lot to phone from our normal line. The time needed would be approximately 6 Months. After this time, we should have a new department for eastern affairs and a new market that needs to be captured.

My recommendations:
I do not recommend to search in Russia since the market is too big and first we should try to get into the smaller markets, only then we may try to expand. To keep the costs low, I would recommend to give the project to

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