HOw to enter new market

There are three steps to enter new market
1. Choose the Best Way to Grow Begin by deciding which growth strategy is right for your company. For example, you may choose to offer new or improved products or services (called line extensions) to segmented groups drawn from your current target audience. Products with new features can grab the attention of lapsed customers and revitalize sagging market share--just so long as the new products and services don't cannibalize sales of your old ones until you're ready to phase them out.
2. How will your new product or service add value for the customer? When you introduce a product or service to any market, you must differentiate from the vast field of competition. Decide how your new offering will stand apart as a better value. Special features or offers, such as convenient free delivery or 24-hour customer service (provided they're not already offered by your competitors) will be perceived as value-added perks that'll help induce customers to make the switch.
Which audience segments will be most receptive to what you offer? Just as you've observed in the drugstore with all the various modifications of razors, certain features will appeal to specific target audience subgroups.
3. Your new products or services will be distributed and sold in the same way as the existing ones, even though they may target different audience subgroups. On the other hand, approaching an entirely new market for a product may require you to create relationships with new distributors. It doesn't matter whether you introduce a product or service--you'll need to create an in-depth marketing program that begins by educating your new prospects and successfully moves them through the sales cycle.