As an example, look at big giants, whose toothpaste uk email lists was struggling in the late 1990s. The company move into adjacent areas in the same marketplace with teeth whitening and brushing. It used the same channels to reach the same customers and reached over $200 million in sales for each of the new products in less than a year. It achieved this by using market research to establish what sort of products those same customers would like to buy.
This is one way of keeping an eye on the market and expanding your business by moving into areas outside the original. You not only need to research your customers but also your competitors. What is it that they are working on? Are they planning a new product or service, and if they are, is it a viable one? This can help you decide whether or not expanding into a new area is going to be profitable for your company.