Focusing Only on Existing Markets

Many companies are stuck because they have not found customers beyond their traditional geographic demographic,or vertical markets.Focusing on local or existing markets is limiting because :

• There are not enough potential customers in your local market for unique,specialized products and service.
• Consumers are increasingly less loyal to local suppliers;
• Falling trade barriers the digitizing of the world economy and other trends are increasing competition in all national and vertical markets
• Global competitors have a strategic advantage because of lower labor costs;
• You are more vulnerable to downturns in your regional or national economy;

For these reasons ,Strategic Enterprise must move beyond its local or existing markets to thrive in the competitive global economy.

written by Bill Bishop