Home > Free Essays > Business > Impact of Business Issues > Low Barriers to Entry

Low Barriers to Entry Exploratory Essay

Exclusively available on IvyPanda Available only on IvyPanda
Updated: Dec 21st, 2019

Introduction

Low barriers to entry determine the strategies that a business must adapt to penetrate a new market. Thus, this analytical treatise explores low barriers to entry for a new comer truck driver in the asset-based supply chain and logistics industry.

The audience and their concerns

Entry in a market with low barriers requires strategies that may make the new entrant excel in a market characterized by stiff competition and series of similar business activity. There are several similar players in the market that the new comer truck driver wants to enter and penetrate.

Besides, truck drivers in the asset-based supply chain and logistics industry are correlated to negative perception by most clients who view them as a bunch of dishonest and unreliable transport service providers. Therefore, there is need to design an entry strategy that would ensure complete control of perception of the clients.

Problem statement

The asset-based supply chain and logistics industry for a new comer truck driver has the challenge of remaining a float amidst presence of very many other track drivers with fleets and an expansive customer niche.

Thus, there is an immediate need for the new comer truck driver to adapt a branding strategy that will make this business enter into the market and penetrate the same to win the current clients. There is also need to establish a water tight business entry plan credentials that would combine natural strengths of the truck driver and his personality.

Recommendations to the entry problem

In order to achieve desired margins in sales and total revenues generated, a proper marketing plan should integrate entry strategy, comparative advantage, and market segmentation since in most cases, there is always a strong competitor or competitors that passing might prove challenging due to existence of consumer perceptions and household names (Janus, 2008).

To increase credibility and maintain professionalism, the market entry plan should encompass processes and features that flawlessly facilitate healthy and lifetime relationships between the truck business and its clients.

Among the new development elements that can be incorporated to build trust include establishment of a strong distribution, fair retribution process, and passing accurate information to target audience to restore confidence within the new networks.

Besides quality in service, delivery and customer satisfaction depend on the marketing segmentation. Therefore, customer retention is achievable through the creation of reliable and affordable marketing channel that is essential in monitoring matrix that maps out potential competitors and identifies weaknesses and strength of the clients.

Moreover, the reporting criteria should reflect the success of marketing calendar and set targets generated from time to time (Longenecker et al. 2009).

Essentially, success of brand and product management in a new market depends on a proper alignment of a functional idea into the creation of flexible, involuntary, and quantifiable measurement of perception among the target audience.

Reflectively, this idea should have essential elements that can easily sway the mind, either positively or negatively. Therefore, the new comer truck driver should brand his truck business as the most competitive in terms of charges for service delivery and reliability (Bert, 2011).

In conclusion, low barriers to entry market such as the asset-based supply chain and logistics industry demand rebranding of the truck business besides adapting the low cost price leader in order to win the current clients and develop loyalty among clients. Despite stiff competition from other track drivers, this industry offers series of opportunities for new entrants since the demand for truck services supersedes the current supply.

References

Bert, R. (2011). Marketing Channels: A Management View. Sydney: Thompson South- Western.

Janus, P. (2008). Pro Performance Point Server 2007: Building Business Intelligence. New York: Press Intel.

Longenecker, G. J., Petty, J.W., Palich E. L., and Moore, W.C. (2009). Small Business Management: Launching and Growing Entrepreneurial Ventures. Alabama: Cengage Learning.

This exploratory essay on Low Barriers to Entry was written and submitted by your fellow student. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly.
Removal Request
If you are the copyright owner of this paper and no longer wish to have your work published on IvyPanda.
Request the removal

Need a custom Exploratory Essay sample written from scratch by
professional specifically for you?

801 certified writers online

Cite This paper
Select a referencing style:

Reference

IvyPanda. (2019, December 21). Low Barriers to Entry. https://ivypanda.com/essays/low-barriers-to-entry/

Reference

IvyPanda. (2019, December 21). Low Barriers to Entry. Retrieved from https://ivypanda.com/essays/low-barriers-to-entry/

Work Cited

"Low Barriers to Entry." IvyPanda, 21 Dec. 2019, ivypanda.com/essays/low-barriers-to-entry/.

1. IvyPanda. "Low Barriers to Entry." December 21, 2019. https://ivypanda.com/essays/low-barriers-to-entry/.


Bibliography


IvyPanda. "Low Barriers to Entry." December 21, 2019. https://ivypanda.com/essays/low-barriers-to-entry/.

References

IvyPanda. 2019. "Low Barriers to Entry." December 21, 2019. https://ivypanda.com/essays/low-barriers-to-entry/.

References

IvyPanda. (2019) 'Low Barriers to Entry'. 21 December.

Powered by CiteTotal, free essay bibliography generator
More related papers