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Market Entry Assessment provides several benefits in business strategies and frameworks. It helps in understanding the dynamics of the new market, including competition, customer preferences, and regulatory environment. This understanding aids in making informed decisions about whether to enter the market, what strategy to adopt, and how to allocate resources. It also helps in identifying potential risks and devising mitigation strategies. Furthermore, it provides insights into potential partnerships or acquisitions that could facilitate market entry.
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Here, each success factor is given a weight for importance, and then scored by customers. Plot out the scores for each success factor under the companies that are the biggest competitors. The gray dots indicate the competitor scores, while the blue dots are how customers scored your company. Quickly make visual comparisons by looking at the plotted lines to see what's working and what's not. (Slide 12)
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