Finding New Markets

Our August newsletter report, Fundamentals of Marketing, introduced the reader to the overall discussion of how to manage markets, products, channels and marketing programs. It was kind of the “everything you ever wanted to know, but were afraid to ask,” version of marketing, in twelve pages. There are two additional marketing processes for which organizations often seek more information - the process of finding new markets for existing products and the process of developing successful new products. This article introduces the reader to the basics of how to identify new markets. The new product development process will be addressed in a future newsletter article.