Dr. Glenn Gearhart CEO of World Market Vendor Services, Inc. provides News and Commentary

Using Focused Market Expansion

Using Focused Market Expansion with the power of World Market

I want you to consider trying Focused Market Expansion in a pilot sales program. Focused Market Expansion is a marketing strategy that allows you to select and pursue “target markets” at a pace and timing that fits your specific business needs, resources, and growth plans. You can focus on one country, one city, one region or many cities, countries, and regions of the world. You set the plan for your expansion and use World Market and the many marketing tools it offers to implement your Focused Market Expansion program.

Market expansion can be visualized as a mountain that must be overcome. It’s a challenge, but combining the World Market eCommerce services with the great proprietary technology of “Pay-Online-With-CASH”™ I think you will find that crossing over the visualized mountain that is stopping you from pursuing cross-border eCommerce business is now an achievable objective… Maybe even a piece of cake!

One of the first tasks in establishing your market strategy is to select candidate cities, countries, regions, and collect the basic data required to make an informed decision and commitment on pursuit of this expansion, or the dismissing the selected potential expansion location, and moving on to another locational opportunity.

The internet is a leading source for supplying the data you need to assist in the where, who and how decision process. This evaluation process is done for each product you sell and the out come (cities, countries or regions) you select for one product may be completely different for the second or third product you market and sell.

To aid in the market strategy development and focused market selection process, I suggest you utilize the World Market Status Tags for each city, country or region you are considering, for each of the products for which you are developing a Focused Market Expansion program.

I have established six unique World Market Status Tags. In general, white represents the degree of the total market that is open to a high degree of penetration by the vendor’s market strategy, and the yellow code is for unavailable or a product saturation level or restriction that will limit the vendor gaining significant market share.

That means the more white on the indicator the better. Notice the market saturated symbol has some white with the yellow. That means that although there is likely strong competition in the market and little room for more growth, a vendor is not forbidden or excluded from entering the market, or if the vendor is already in the market to obtain some degree of growth.

Market Expansion
Amazing Market – This is a market where the need and demand is very high, there are no known restrictions or regulations to overcome, and the government desires your products be made available to its citizens. It is a market opportunity where your product could go viral and receive great word-of-month promotion and buzz. It is a market location where little or no advertising will be required to experience large or even huge sales volumes and earnings. It is a market where pricing, including the costs for fulfillment, shipping and delivery is very acceptable to the local consumers and there is little or no competition.

Excellent Market – Is a market in which there are no known, or there are very few, competitors and there is clearly strong need for, and consumer desire for the vendor’s product. Because World Market with “Pay-Online-With-CASH”™ is opening many developing countries to eCommerce shopping and buying opportunities, by using World Market to reach these newly arising markets, the vendor will find many opportunities to classify a country or region as excellent. There will be little or no competitors and a need for the product that can now be filled by using World Market eCommerce services and “Pay-Online-With-CASH”™. The same country may be an Excellent Market for one of one specific product and only a Good Market, or even a Bad Market, for another product.

Great Market – Is best described as a market in-between good and excellent. Likely one will find some competition, and the product will require some promotion to support a continuing year-to-year growth pattern. But the market analysis results indicate, that in the current economical and political environment, the pursuit of this market will bring a great return-on-investment (ROI) for the foreseeable future. It is the kind of market every business dreams of holding a large market share.

Good Market – It is a market with the opportunity for growth and good return on investment (ROI). There are competitors, or other factors that will require attention and an effort will be required to assure a successful capture of a small but reasonable share of the market. Product promotion will be required at entry of the market and usually must continue for some period of time. This effort is needed to create product and vendor brand awareness.

Market Saturation – This status tag is not a STOP sign. It means the market is an acceptable market, but there is strong competition and it has limited future growth potential for the product. This may be the status tag for the market or markets the vendor is currently servicing. Commonly, Market Saturation occurs in a mature market.

Bad Market – This is a market that is not good for a specific product. It may be a great market for some of the other products the vendor offers, but not this one. It may not be an acceptable market due to local buying habits of customs, low cost local competition, government restrictions or regulations, local consumer preferences, costs of fulfillment, shipping and delivery, or other reasons. This is the status tag that says do NOT spend time, capital or resources in selling this product into this market. It means the return on investment (ROI) is not there. This market may open up sometime in the future, but not now.

World Market with “Pay-Online-With-CASH”™ has opened many countries to eCommerce shopping and buying opportunities. By using World Market you can now establish marketing strategies to reach these markets in one or all of the 235 countries and territories, the many 1,000s of cities and regions, and over 2.4 billion customers that are serviced by World Market. Now you can prepare a viable and effective eCommerce market strategy, enjoy sales growth and capture market share, in new and formally un-serviced markets for your products.

I recommend the use of these status tags and your review of many potential markets with each of your products. World Market addresses selling and payment, and leaves with you the power and control to establish and implement your own market strategies for each product, to address pricing, sales programs, fulfillment, shipping selections, refunds and customer services. World Market cross-border growth can be obtained with little or no capital investment and very little expense. Plus the service is safe, simple, economical and effective.