Low Barriers to Entry

Low Barriers to Entry 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.Advertising We will write a custom essay sample on Low Barriers to Entry specifically for you for only $16.05 $11/page Learn More 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 st rategy 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.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More 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.Advertising We will write a custom essay sample on Low Barriers to Entry specifically for you for only $16.05 $11/page Learn More 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.