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For every successful market entry, about market entry attempts end in failure. This failure is attributed to many factors—timing, scale, competition, capabilities, and particularly irrational decision making. The decision to successfully enter a market necessitates detailed analysis. These critical decisions, however, often get tainted by Cognitive Biases—the systematic errors in the way people process information. Cognitive Biases distort executives’ perception regarding their firm’s capabilities, potential market, and competition.
Source: Psychology of Market Entry Analysis PowerPoint document
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Psychology of Market Entry Analysis
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Upload date (first version): Oct 26, 2018
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