Market choice

Market selection is the first and most important step in market entry consultation. Market selection refers to the selection of the most valuable and suitable market from many potential markets according to the objectives and resources of the enterprise. There are many methods of market selection, the common ones are: market potential method, market attraction method, market risk method, market synergy method and so on. The market potential method is based on the size of the market, growth rate, profit margin and other indicators to assess the market's prospects and revenue potential. The market attractiveness method evaluates the attractiveness and accessibility of the market according to the degree of competition, barriers to entry, customer demand, legal regulation and other factors. The market risk approach assesses the degree of uncertainty and risk in the market based on its political, economic, social, technical, environmental, legal and other factors. The market synergy method evaluates the synergy and value-added potential of the market based on the interrelationship between the market and the enterprise's existing business, products, technology, brand, etc. The result of market selection is a list of market priorities, sorted by market value and suitability.

Market Analysis

Market analysis is the second step of market entry consultation, which is to conduct in-depth research and understanding of the selected market. The purpose of market analysis is to provide the basis and guidance for market positioning, market entry mode and market entry plan. The contents of market analysis include: market overview, market segmentation, market demand, market competition, market regulation, market culture, etc. Market overview is a description of the basic situation of the market, including the size, structure, growth rate, trends, characteristics, etc. of the market. Market segmentation is the division of the market into different sub-markets or market segments according to different dimensions, such as geography, population, behavior, psychology, etc. Market demand is the analysis of customer demand in the market, including the quantity, quality, characteristics, motivation, influencing factors, etc. Market competition is the analysis of the competitive situation of the market, including the number, type, scale, strategy, advantages, disadvantages, market share and so on. Market regulation is the analysis of the legal regulation of the market, including entry permits, taxes, tariffs, standards, restrictions, protection and so on. Market culture is the analysis of the cultural environment of the market, including language, beliefs, values, habits, etiquette, preferences, etc.

Market Positioning

Market positioning is the third step of market entry consultation, which is the process of determining the target customer group and differentiated competitive advantage of the enterprise in the market. There are many methods of market positioning, the common ones are: single positioning method, multiple positioning method, centralized positioning method, decentralized positioning method, etc. The single positioning method refers to the positioning of a company for only one market segment or one customer group, focusing on meeting its specific needs and expectations. Multiple positioning method refers to the positioning of enterprises for multiple market segments or multiple customer groups, providing different products or services to meet different needs and expectations. Centralized positioning method refers to the enterprise in a large market to choose one or several favorable market segments or customer groups to position, concentrate resources and energy, the formation of specialization and leading advantage. Decentralized positioning refers to the positioning of all market segments or customer groups in a large market, covering and meeting the various needs and expectations of the market. The result of market positioning is a market positioning matrix, which is divided according to the attractiveness of the market and the competitiveness of the enterprise, and determines the target market and competitive strategy of the enterprise.

market entry mode

Market entry mode is the fourth step of market entry consulting, and it is the process of selecting the way and form of business in the market. The choice of market entry mode needs to take into account the enterprise's objectives, resources, capabilities and risks, as well as market demand, competition, regulation and culture. There are many types of market entry modes, the common ones are: export, agency, distribution, franchising, joint venture, cooperation, sole proprietorship, acquisition, etc. Export refers to the export of products or services from the country to the target country, through local intermediaries or directly sold to local customers. Agency means that an enterprise entrusts a local agent to sell products or services on behalf of the enterprise in the target country and pays a commission or fee. Distribution refers to the establishment of a cooperative relationship between an enterprise and a local distributor to provide products or services to the distributor, who is responsible for selling the products or services in the target country.

Franchising means that an enterprise authorizes its brand, technology, management, etc. to a local franchisee, who operates products or services in the target country in accordance with the standards and regulations of the enterprise, and pays the franchise fee or share. A joint venture is the establishment of a new legal entity jointly funded by an enterprise and a local partner to jointly operate products or services in the target country and distribute the proceeds according to the proportion of capital contribution or agreement. Cooperation refers to the establishment of cooperative relations between enterprises and local partners, the joint or separate operation of products or services in the target country, and the distribution of income in accordance with the cooperation agreement. Sole proprietorship means that an enterprise establishes a wholly-owned subsidiary or branch in the target country, operates products or services independently in the target country, and enjoys all the benefits and control. An acquisition is when an enterprise acquires its business, resources, capabilities and market share in the target country by purchasing an existing local enterprise or part of its shares. The choice of market entry mode needs to be comprehensively evaluated and compared according to the enterprise's objectives, resources, capabilities and risks, as well as market demand, competition, regulation and culture, and so on.

Market Entry Plan

Market entry plan is the fifth step of market entry consultation, which is the process of formulating specific action plans for enterprises to implement in the market. The market entry plan includes: market entry objectives, market entry objectives, market entry strategies, market entry resources, market entry time, market entry budget, market entry assessment, etc. Market entry target refers to the specific performance indicators that enterprises hope to achieve in the market, such as sales, market share, profit margin, customer satisfaction, etc. Market entry strategy refers to the specific action measures taken by enterprises in the market, such as product strategy, price strategy, promotion strategy, channel strategy, service strategy and so on. Market entry resources refer to the specific human, material, financial and information resources invested by enterprises in the market.

Market entry time refers to the specific time arrangement implemented by enterprises in the market, such as market research time, market preparation time, market start-up time, market expansion time, etc. Market entry budget refers to the specific cost budget implemented by enterprises in the market, such as market research costs, market preparation costs, market start-up costs, market operating costs, etc. Market entry assessment refers to the specific effect assessment implemented by an enterprise in the market, such as the achievement of market entry objectives, the implementation of market entry strategies, the use of market entry resources, the compliance of market entry time, and the control of market entry budgets. The formulation of a market entry plan requires detailed planning and arrangements based on the results of market analysis and market positioning, as well as the choice of market entry mode, to ensure smooth and successful market entry.

Market Entry Execution

Market entry execution is the sixth and final step of market entry consultation. It is the process of implementation in the market according to the requirements of the market entry plan. The key to market entry implementation is: organization, coordination, monitoring and adjustment. Organization refers to the establishment of an effective market entry executive team, clear team responsibilities, authority and communication mechanism, to ensure the team's efficiency and collaboration. Coordination refers to effective communication and collaboration with all parties related to market entry, such as partners, distributors, agents, franchisees, suppliers, customers, governments, media, etc., to ensure smooth and supportive market entry.

Monitoring refers to the continuous tracking and inspection of the process and results of market entry execution, such as market feedback, sales data, cost data, quality data, risk data, etc., to ensure effective and compliant market entry. Adjustment refers to the necessary modification and optimization of the market entry plan according to the monitoring results of market entry implementation, such as adjusting the market entry target, market entry strategy, market entry resources, market entry time, market entry budget, etc., to ensure the adaptation and improvement of market entry. The purpose of market entry implementation is to achieve the goal of market entry, improve the efficiency and effectiveness of market entry, and enhance the competitiveness and sustainability of market entry.

Conclusion

Market Entry Consulting is a professional service that provides companies with comprehensive guidance and support for doing business in new markets. The process of market entry consultation includes: market selection, market analysis, market positioning, market entry mode, market entry plan and market entry execution. The value of market entry consulting is to help companies identify and take advantage of new market opportunities to improve their competitiveness and profitability. Shangpu Consulting Group is a professional market entry consulting company with rich industry experience and global network, which can provide enterprises with a full range of market entry consulting services and help enterprises successfully achieve their market entry goals. If you have any requirements or questions about market entry consultation, please contact us, we will serve you wholeheartedly.