Research shows that 42% of startups fail due to a lack of demand for their products, highlighting the importance of understanding audience needs. Successful market entry depends on a balance of competition and profitability, where regions with low competition offer growth potential but may have limited consumer spending. An example is MENA, which, despite a smaller population, is attractive for expansion due to higher purchasing power. Timing is also crucial; entering a market just before a surge in adoption can drive growth exponentially.
42% of startups fail due to lack of real demand for their offerings, surpassing issues like funding or competition. Understanding market need is essential.
To succeed, startups must analyze their market, understand their audience, and effectively position their brand against competitors, not just rely on a great product.
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