ENTERING NEW MARKETS AND MARKET NICHES

Albena Vutsova () and Emil Mitov ()
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Albena Vutsova: Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski
Emil Mitov: Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski

Yearbook of the Faculty of Economics and Business Administration, Sofia University, 2016, vol. 13, issue 1, 47-67

Abstract: Successful entry into new markets and creating new market niches is the new challenge for organizations arising from global competition and can become a test of their stability. This statement is particularly relevant in this moment of a financial crisis and uncertainty. Difficulties in the successful implementation in new markets or the formation of new market niches are numerous and of various types. This is especially true of innovative products or services, the market performance success has an uncertain outcome and contains risk, but difficulties for many market participants namely entering a new market segment is the outcome of a protracted stagnation for too long. This study focuses on the research of circumstances of the entry of new and innovative products on the market and/or the opening of a new market niches for such products. There are well-established models (Johanson/ Vahlne – Uppsala model), which give a clear idea of how the market penetration works. The product research includes the study as one of the most important sources of innovation and new scientific knowledge (Peter Drucker). The purpose of this paper is to present a method for assessing the marketing of scientific institutions products.

Keywords: market niches; new markets; innovative firms; innovative networks. (search for similar items in EconPapers)
Date: 2016
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