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When you hear about new market, let your mind be centered on "developing, distributing, and marketing a business, a product or a brand that was never in existence".  
Customers didn't know about the product. There was no market about it. It’s completely new.   


Instances where you meet an old/existing market, and a new market

If you graduate from school, then open your own firm and start producing biscuits baked with wheat and flour, are you targeting a new market? No!
Reason?  McVitie’s biscuits made of wheat are already there in the market

If your firm creates an app for currency exchange, are you targeting a new market? No!
Reason? X.E and the rest of the currency exchange apps are already there in the market.  

But if your firm creates an app-like robot that can be installed in the human brain to help the human read and pass their exams, are you targeting a new market? Yes! Reason?  Such app doesn’t exist in the market for now  

So this is more or less the differences between a new market and old/existing market 


Examples of some global companies that met a new market  

Google - new market of online search and search engine marketing  

Twitter - a new market of micro publishing  

Most apps on smart phones are new markets in technology industry  

Some pharmaceutical and health firms enter new markets through research on different bio chemicals that produce unique type of drugs  

Most food companies also produce unique and entirely different brands that never existed in the market 


Advantages of venturing into a new market 

When you are entering, or when you successfully enter a new market, below are a few advantages:  
1.   There are no competitors  
2.   There is market leadership  
3.   Growth is quick  
4.   You will win big  
5.   It enhances creativity because you have to create and event something that can best soothe the consumers. It makes you think fast. Good thinking, good product. Good enhancement.   
Creativity is new market. Creativity is unique to you. It didn't exist. So once you dish it out, customers will buy all 


Disadvantages of venturing into a new market  

1.   It's risky the market might not be there 
2.   It's risky it might not soothe the consumers  
3.   There might not be a know how to continue with creativity, enhancement and innovation  
4.   Government consumer regulations might affect the products  
5.   There might be lack of knowledge for effective distribution and marketing 


How to handle things properly while entering into the new market  

1.   Make sure the market will be there  
2.   Create a good product  
3.   Provide templates for creativity and innovation continuations  
4.   Get proper information on government regulations about such products 
5.   Good management  
6.   Good distribution and marketing strategy   


Here is one key intelligent way of entering a new market 

·        Dominate an existing market and simultaneously open new markets.  

Uber did this! It dominated the existing markets of taxi services, but then it opened new markets by adding digital location designation-based services with the help of smart phones. 


The Key Entrants into the New Market 

In other explanations and more insights on old/existing markets and new markets, there two classes of business owners that enter a new market. They are simply described as new market entrants.
They are classified as the pioneers and the followers. They are known as the key entrants.
These two classes of new market key entrants have different unique strategies with which they enter into the new market. The different strategies they employ is in a bid to bring about success to their businesses and brands


So below are the successful new market entry strategies for the two key entrants 

The two key entrants are the PIONEERS AND THE FOLLOWERS  

The PIONEERS identify a new market and they enter first. And if things work out for them, they are rewarded handsomely. They are more like the PROSPECTORS.  

The FOLLOWERS identify a new market but stay back to analyze it, or watch the pioneers enter first so that they can take note of pitfalls and tackle them before they enter. They are more like the ANALYZERS  

Such cases can be explained by an example where Lotus 123 and word perfect entered the computer spreadsheet new market first.  
Then Microsoft followed later.  But now, Microsoft is leading.  


For a successful new market entry for pioneers, they should have,
  
1.   Large entry scale  
2.   Broad product line  
3.   High product quality  
4.   Heavy promotional expenditures  


For a successful new market entry for followers, they should have,
  
1.   Larger entry scale than the pioneer  
2.   Leap-frogging the pioneer with superior product technology, product quality and customer service 


Written by @winston_oge

Professional Business Strategist and Administrator


Tobi may win the bbnaija N45m prize. Reason? 
Big brother would love the TOBI/CEEC drama to continue even outside the house. 

This time around; CeeC, after Tobi would have won the money might wish she was really in very good terms with Tobi back then while they were still in the big brother house. 
She might want Tobi back into her life and then Tobi might snub her. Or maybe the other way round; it's possible Tobi might still want her, and she might not even give a damn fuck. I know CeeC, that bitch eh?.. 

This intended drama after the show is what Big brother wants. 
This is one of the strategies Big brother uses to market its brand. He would want to keep up the drama right inside our heads even after the show has ended.

Trust we Nigerians and our ever gossip-gullible bloggers nah. Everyone would be sniffing around, curious to know when CeeC would say what about Tobi; or when Tobi would do what, or say what about CeeC.
You can trust the Naija atmosphere nah. Every attention would now be focussed on "Tobi", "the N45m", "CeeC", "Tobi said this to CeeC", "CeeC said this to Tobi", CeeC and Tobi go out on a date", "Alex snubbed CeeC at an event", "Nina's boyfriend abandoned her over Miracle", "Miracle said this to Tobi", "Tobi spends his money with his new girlfriend", "Klohe said she wished she was Tobi's pair", Miracle's girlfriend dumps him over Nina", "Lolu regrets why he didn't spice things up with Anto", "CeeC snubs Lolu at a TV interview", "Tobi talks about Alex, says their relationship in the house was not real". And all of that!!!!

No wonder Big brother applied the "couple thing" in his house for the house mates. He wanted to trigger romance, gossip, jealousy, hate, commotion, love, lust, care, accusations, and plenty dose of wahala. And to maintain these results in the house during the show and even after the show, he evicted the house mates who were not ready to provide the desired results. 
House mates who did not couple very well were all evicted one after the other.  
The Audience were so surprised at the reason the likes of Rico, Teddy A and Bambam were evicted weeks before the end show. The reason is that Rico refused to show his dramatic part. He was just flowing plainly with every house mate. He had no drama to offer. 
Teddy and Bambam tried, but at a point, the romantic fire in both of them died down. They didn't have any other drama to offer. And as result, they were evicted.

Big brother always has a strategy to always keep the thrills on. This makes the drama to linger in our minds, and this is how big brother markets its brand. 

I am not sure our votes about evictions really counted all this while. 
At every point in time, big brother always knew who's best to leave the show. It's his house so he knows how to run it to keep the drama up.


Tobi is the "man of the game". He had a thing or two to do with CeeC, Alex, Anto, Nina and Bambam. These five ladies are the romantic "live wires" in the big brother house.

Big brother would love the TOBI/CEEC/ALEX/NINA/ANTO/BAMBAM drama to continue even outside the house.
And we the audience are waiting. 


Written by: Winston "Winny Greazy" Oge 

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