1. Tips on New Market
Penetration
By Carmen Arruda

2. Carmen Arruda works for Fidelity National Title Group in
Bellevue, Washington. Arruda is the assistant vice
president and regional account manager for the
company.

3. Penetrating new markets is a significant risk for a
business, and it should not be taken lightly. Whether
expanding into a new location, selling to a new
audience, or offering new products or services, a
business must have a successful new market plan that
relies heavily on research. In addition to clearly defining
the risk/reward of the endeavor, the plan must identify
and account for the unique characteristics of each area,
audience, and product.

4. Researchers should rely on first-person focus groups
and product demonstrations and large-scale
demographic surveying to determine the size, buying
profile, and overall economic climate of the new market.

5. Introductory prices, advance advertising and media
buzz allow a company to “get a foot in the door” with a
new market. Be flexible and open-minded when crafting
a sales plan.