Entering New Markets

Market selection for a small business is a critical decision. With limited staff, time, and financial resources, companies must carefully weigh whether to enter into several markets at once or stay focused on one market at a time. These tactics would include a reactive, opportunistic, or first-mover advantage. Should the company cooperate with partners that have local intelligence, opt for a more independent, or go it alone approach? 

We help our clients process the various barriers and challenges they face when entering into a foreign market. The company may need to be sensitive to the adaptation of the product or service for a particular global market. Similarly, the marketing brand or tone of voice may have to be altered to be culturally sensitive.  

An analysis of the company's data requirements will present a clear vision of the foreign market's demand, opportunities for growth, and risks (political, cultural, and economic). A market screening model will uncover sustainable market opportunities. Based on an understanding of the analyzed markets, an action plan and time table will enable the company to maximize business opportunities.