The process of a company entering a new market to sell its products or services. It involves strategic planning and execution to establish a presence in an unfamiliar market segment or geographic region.
This business term emerged in the mid-20th century as companies began expanding globally. 'Market' derives from Latin 'mercatus' meaning trade, while 'entry' comes from Old French 'entree' meaning entrance, combining to describe the strategic act of entering commercial spaces.
Market entry strategies can make or break a company's expansion dreams - some of the biggest corporate failures in history stem from poorly executed market entries, like Walmart's unsuccessful attempt to crack the German market in the 2000s. The phrase has spawned numerous sub-categories like 'barrier to entry' and 'entry strategy,' showing how central this concept is to modern business thinking.
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