You found success! Now do you look open new markets for your on-
So you launched a successful on demand platform in your local market. In many cases, a successful launch in one market means your solution is viable in others. What should you consider before launching in a new market?
- Regulation. One of the reasons Uber launched successfully in many cities but not others is due to local governments banning ride-sharing within their jurisdiction. Indeed, that is why you will not see Uber in several countries across Europe including Hungary, Denmark and Bulgaria.
- Original Market Factors. Before launching in a new marketplace make certain the factors which allowed the original launch marketplace to succeed are also present. For example, is the population density a responsible for the original marketplace’s success extant in the new marketplace?
- Demographics. Is the target demographic of your customer base sufficiently represented within the new market? For example, if you were targeting a product or service that focused on students such as birth control, you might want to focus on marketplaces sufficiently populated by students such as university towns.
- Socio-cultural considerations. You must always consider the society and culture in which you are proposing to launch your application. It goes without saying that a Dial-a-Bottle service would not succeed in a country observing strict adherence to non-alcoholic consumption.