Entering a Market Where There’s Little Demand for Your Product
When it comes to choosing new markets to enter, the safe bet is to focus on regions with visible, existing demand for your products or services. Hyundai, for example, only entered China when the Chinese auto industry was already growing about 20% per year. Amazon waited to venture into India until the country’s e-commerce sector was growing at 35% per year. And Uber launched a motorbike taxi service in Indonesia after the success of local rivals Gojek and Grab demonstrated the popularity of similar services in the region.