Reference no: EM133572921

Question: Sam developed a new-to-the-world product and was thrilled when his startup was funded by Redpoint Ventures. Unfortunately, his business is running out of funding and might only make it for a few more months. What market entry strategy would work best? Testing the waters, he should spend more time in the test market stage of the new product development process before attempting to commercialize an unproven product. Wait and see approach. He cannot afford to make a mistake so he should wait until he is sure the product will be successful before entering the market. Third mover strategy, he should wait until there are two competitors in the market and then pursue a niche strategy during the growth stage. First mover strategy, it is riskier, but he has little to lose if it doesn't work out. Second mover strategy, it would be smarter to let a well capitalized company introduce the product.