Entering a New Market

Observing over many years how the trade explores and neglects markets is a very interesting phenomenon.

Most enter the market because:

• The tourism ministry says so
• Because they get to travel
• Impressed by another word of mouth – Wow that market you know
• Because everyone else is in the market
• The event is too big like ATM, WTM or ITB

How can one enter the market?

• Stay nights
• What meal plans they need
• Do they have special requirements always: Twin beds, Jain food or Kosher meals
• Has the market penetration become too much, the one market is taking 10 quotes for one requisition and you do business for USD 1 this too without the volume.
• Does the market have more vendors in their own country selling this product where it is more easily accessible to them?
• Is the banking system of the country is less complicated.
• What is the margin that is possible?
• Do we need to teach and nurture the product?
• Do you get be concrete of the product?
• Educate the market highly on your product provide them the tools to sell, most people do not sell your product because they do not have the confidence to.
• Is your team equipped for the market? If no now we educate the team to handle the market.

Please never explore a market without research, not because it sounds fancy, not because everyone is doing it and so should I, and not because someone else just told. Research, Plan and then execute.

If you are doing it mainly for the PR, we too are doing it make sure you do that right too.

Next time when entering a market don’t make it feel like impulsive shopping, but a researched product.

I might be wrong, you might strongly disagree but I am glad I made you think.

Cheers!

LISWITH