New markets

New markets refer to the process of entering and establishing a business presence in areas or industries where a company has not previously operated. This can involve expanding geographically to different regions or countries, or exploring different customer segments or product categories. The goal is to reach new customers, increase sales, and grow the business by tapping into unmet demand or emerging opportunities. Successfully entering new markets requires understanding local preferences, regulations, and competition, and often involves developing tailored strategies to meet the specific needs of that market.