If you think you are going to expand and find new geographic markets, you have to possess the information regarding the characteristics of this specific market; what are the barriers that you might need to overcome; what are the possible cultural and social characteristics; is there demand for your product?
It is important that your product be competitive on this specific market where you are going to conduct your expansion plan.
New markets may involve a new country, region, city or even district. It can also be a new segment.
The study of new market entry feasibility will answer all the questions above. Before making a final decision, you must ensure that your choice is appropriate and profitable.
Duration of Research: 2-3 months