Question

If you were developing a product (like a web

browser) for a market with significant barriers to entry, how would you try to get your product into the market successfully?

Short answer

You may join the market by employing the incremental innovation technique.

Step-by-step solution

Step 1. Introduction

The legal, technological, and market forces that discourage or prohibit new rivals from entering the market are known as barriers to entry.

Step 2. Explanation

Before entering any market, newcomers should thoroughly research the market's strengths and shortcomings. It can then devise a market entry plan. If a new product is being produced, it should be innovated and improved to target a particular market. Customers usually desire something more in contrast to the previous ones, hence this method is also known as incremental innovation. The price might be cheap or the same as the better version in order for customers to be drawn in and switch to the new product.