Why You Need A Market Intensification Strategy -- Nataly Kelly // Rebrandly
Dec 21, 2023
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Nataly Kelly, author of Take Your Company Global, discusses the importance of market intensification strategy in expanding into new markets. She emphasizes the need for a gradual approach and deep market understanding. Topics include Maraka model for market potential assessment, customer adjustability, and strategic decision-making for international expansion.
Market intensification focuses on existing markets over conquering new ones in the digital age.
Strategic alignment with business goals is essential for effective international expansion.
Deep dives
Market Intensification Strategy in the Digital Age
In the digital age, market intensification strategy focuses on further penetrating existing markets rather than conquering new ones. With the global audience accessible online from the onset, companies need to use incremental processes to expand their presence. This gradual approach utilizes diverse strategies to extend market reach, leveraging digital channels for broader audience engagement.
Ma-Ra-Ka Framework for Market Opportunities
The Ma-Ra-Ka framework, consisting of Market Availability, Real-Time Analytics, and Customer Addressability, aids in identifying valuable business opportunities in international markets. Market Availability assesses the potential market capture, Real-Time Analytics monitors current market performance, and Customer Addressability evaluates operational readiness to address customer demands effectively.
Strategic Expansion into International Markets
Before expanding into new markets, companies must align their international strategy with overarching business goals. Assessing opportunities based on growth, retention, or profitability objectives ensures that international expansion complements core strategies effectively. Strategic decisions for international growth require comprehensive analysis, resources, and organizational commitment to capitalize on global market opportunities.
Nataly Kelly, Author of Take Your Company Global, explores international digital marketing strategies. In the digital age, expanding into global markets has become more accessible for companies. However, unlike the past, today's approach requires an incremental process to expand your presence in a new market, making a market intensification strategy crucial. Today, Nataly discusses why you need a market intensification strategy. Show Notes