Market entry consulting is a type of consulting service that helps companies to do business in a new market or region. Market entry consulting can help companies analyze market opportunities and risks, develop appropriate strategies and action plans, and provide implementation support and monitoring and evaluation. The process of market entry consulting usually includes the following steps: market research, market analysis, market selection, market entry mode, market entry plan. Based on the expert experience of Shangpu Consulting Company, this paper summarizes the five skills of market entry consulting, namely: in-depth understanding of customer needs and objectives, the use of multi-dimensional and multi-level market analysis methods, comprehensive consideration of the advantages and disadvantages of various market entry models, the development of specific and flexible market entry plans, the establishment of effective communication and cooperation mechanisms. This paper also shows the application and effect of these skills in practice by introducing the market entry consulting cases provided by Shangpu Consulting for an e-commerce platform, an automobile manufacturer and a financial service provider.

1. what is market entry advice?

With the development of globalization and digitalization, more and more enterprises are faced with the opportunities and challenges of doing business in new markets or regions. However, market entry is not an easy task. It requires enterprises to have a full understanding and preparation of the target market, as well as to formulate appropriate strategies and action plans. Otherwise, the enterprise may encounter various difficulties and risks, and even lead to failure or loss.

In order to help companies successfully achieve market entry, some professional consulting firms provide market entry consulting services. Market entry consulting is a type of consulting service that helps companies to do business in a new market or region. Market entry consulting can help companies analyze market opportunities and risks, develop appropriate strategies and action plans, and provide implementation support and monitoring and evaluation.

The Case for 2. Market Entry Advice

In order to better demonstrate the application and effect of market entry consulting skills in practice, this article will introduce the market entry consulting cases provided by Shangpu Consulting for customers in three different industries and different regions.

Case 1: European market entry consulting for an e-commerce platform

An e-commerce platform is an Internet company focused on providing cross-border e-commerce services. It hopes to establish business in the European market to expand its international influence and revenue sources. The company commissioned Champu Consulting to provide it with European market entry consulting services.

Champ Consulting first conducted in-depth communication with the company to understand its background, needs, goals, expectations, etc., as well as its knowledge and assumptions about the European market. Then, by collecting and collating relevant data and information about the European market, Champ Consulting conducted a comprehensive and in-depth analysis of the European market to identify the opportunities and risks in the European market, as well as the company's strengths and weaknesses in the European market. Using PEST analysis, Porter's five forces model, SWOT analysis, STP analysis and other tools and methods, the company reveals the characteristics and trends of the European market, as well as the competitiveness and development potential of the company in the European market from different dimensions and levels.

Based on the results of the market analysis, Champu Consulting has segmented and evaluated the European market, selecting the market segment or region with the most potential and most suitable for the enterprise. Shangpu Consulting found that although the overall scale of the European market is relatively large, there are also challenges such as higher competitive pressure, more complex laws and regulations, and more diversified consumer needs. Therefore, Shangpu Consulting recommends that the company adopt a targeted and step-by-step market selection strategy, that is, first select a relatively easy to enter and representative market as a pilot, and then gradually expand to other markets based on the experience and effects of the pilot. After comparative analysis, Shangpu Consulting recommend the United Kingdom as the preferred market for the company, because the United Kingdom has the following advantages: large market size, high demand for cross-border e-commerce, and consumers have a better acceptance of Chinese goods. More flexible laws and regulations, better trade relations with China, etc.

Based on the results of the market selection, Champ Consulting determined how the business would operate in the UK market, the market entry model. Champ Consulting has considered the advantages and disadvantages of various market entry modes, as well as the resource capabilities of the enterprise, the characteristics and competition of the UK market, and the long-term planning of the enterprise for the UK market. Champ Consulting offers two alternative market entry modes for the business: independent entry and joint venture. Independent entry means that the business itself builds its own platform and logistics system in the UK, directly facing consumers and suppliers. The advantage of this model is that it can maintain complete control over the business and independent decision-making, as well as obtain higher revenue and brand influence. However, this model also has high cost, risk and difficulty, which requires the enterprise to invest a lot of capital, manpower, technology and other resources, as well as face fierce competition and uncertain legal environment. A joint venture means that the company cooperates with a local e-commerce platform with strong influence and resources in the UK to jointly operate a cross-border e-commerce platform. The advantage of this model is that it can take advantage of partners' market knowledge, channel resources, government relations and other advantages to reduce entry barriers and risks, as well as improve market acceptance and trust. However, this model also has lower returns and control, which requires the enterprise to coordinate and distribute benefits with its partners, as well as the possibility of competition or betrayal by its partners. According to the actual situation of the enterprise and the actual situation of the target market, the company recommend the joint venture model as the preferred model, and gives the corresponding reasons and basis.

According to the results of the market entry model, Shangpu Consulting has formulated a specific, feasible and flexible market entry plan, including objectives, strategies, actions, resources, budgets, timetables, etc., and formulated corresponding risk response measures and monitoring and evaluation indicators. Champ Consulting has developed the following market entry plan for the business:

Goal: Within one year, establish a stable and competitive cross-border e-commerce platform in the UK, and achieve sales of at least 100000 registered users, 1000 suppliers and 1 million GBP.

Strategy: Joint venture with a local e-commerce platform with strong influence and resources in the UK, and jointly operate a cross-border e-commerce platform. The platform is mainly aimed at middle and high-end consumers, providing high-quality goods from China, such as clothing, accessories, household goods, etc. The core competitiveness of the platform is to provide fast, convenient and safe cross-border logistics services, as well as to provide high-quality customer service and after-sales protection.

Actions: Specific actions include the following:

Sign a joint venture agreement with the partner, specifying the rights and obligations of both parties, as well as the principles of distribution of benefits and risk-taking.

Establish a special project team, and each party will send a certain number of personnel to be responsible for the construction, operation and management of the platform. The leadership of the project team is determined by both parties, and the members of the project team are managed by both parties.

Establish a special project platform for information exchange, opinion communication and problem solving with partners. The project platform can use the Internet, telephone, video conference and other ways to regularly report and evaluate the progress of the project.

Register a new company in the UK as the legal subject of the joint venture platform and apply for relevant licenses and documents to comply with the legal and regulatory requirements of the UK.

Establish a new website and mobile application in the UK as the technical support of the joint venture platform, and carry out relevant testing and optimization to ensure the stability and security of the platform.

Establish a new logistics center in the UK as the logistics support of the joint venture platform, and coordinate and connect with the logistics partners in China and the UK to ensure the fast, convenient and safe logistics.

Recruit and train a group of high-quality suppliers in China, and sign relevant cooperation agreements with them to ensure the quality and price of goods.

Carry out a series of marketing activities in the UK, including online advertising, social media, word-of-mouth marketing, offline activities, etc., to improve the visibility and credibility of the platform.

Establish a professional customer service team in the UK and provide customer service services in multiple languages and channels to improve customer satisfaction and loyalty.

Resources: In order to implement the market entry plan, the enterprise needs to invest the following resources:

Capital: The company needs to invest about US $5 million for platform construction, logistics center construction, market promotion, etc. The funds are contributed by both parties in proportion to their respective shareholdings.

Manpower: The company needs to invest about 50 people for project teams, website development, logistics management, supplier management, customer service services, etc. The manpower shall be allocated by both parties according to their respective work contents.

Technology: The company needs to invest about 10 people in technology for website development, mobile application development, data analysis, etc. The technology is provided by the company itself and is connected and collaborated with partners.

Budget: According to the input of resources and market conditions, the enterprise is expected to achieve the following income and expenditure within one year:

Revenue: The company expects to achieve sales of about £ 1 million a year, of which about 80% will come from high-end consumers and 20% from low-end consumers. The sales are divided between the parties in proportion to their respective shareholdings.

Expenditure: The enterprise is expected to spend about US $8 million within one year, of which about 60% will be used for platform construction, logistics center construction, market promotion, etc., 20% will be used for commodity procurement, logistics expenses, etc., 10% will be used for customer service, after-sales guarantee, etc., and 10% will be used for management expenses, taxes, etc. The cost shall be borne by both parties in proportion to their respective contributions.

Profit: The business is expected to realize a loss of about-$7 million within one year, of which about-$5.6 million will be borne by the business and-$1.4 million will be borne by the partners. The loss was due to the larger initial investment in market entry and less revenue. The business is expected to break even in the second year and make a profit in the third year.

Timetable: According to the content and difficulty of the market entry plan, the enterprise has formulated the following timetable:

The first quarter: complete the communication and agreement with partners, establish the project team and project platform, register the new company and apply for relevant licenses and certificates, and start the development of website and mobile application.

The second quarter: complete the development and testing of website and mobile application, establish logistics center and connect with logistics partners, recruit and train suppliers and sign cooperation agreement with them, and start marketing activities.

The third quarter: officially launched the platform operation, began to receive consumer and supplier registration and transactions, set up customer service team and provide customer service services, continue marketing activities, and conduct data analysis and effect evaluation.

Fourth quarter: optimize and adjust the operation of the platform, increase the variety and quantity of goods, expand the scope and intensity of marketing, improve customer satisfaction and loyalty, and carry out risk response and problem solving.

Risk response measures: according to the content and difficulty of the market entry plan, the enterprise has identified the following possible risks and formulated corresponding countermeasures:

Legal risk: due to changes or uncertainties in UK laws and regulations, which may affect the legality or compliance of the platform. In order to cope with this risk, the company needs to maintain close communication and collaboration with its partners, understand and comply with the legal and regulatory requirements of the UK in a timely manner, and seek professional legal advice and support.

Competitive risk: As the cross-border e-commerce market in the UK already has some strong competitors, it may affect the market share or profit margin of the platform. In order to cope with this risk, the company needs to make full use of the advantages of both partners, provide distinctive and valuable goods and services, and carry out differentiated and positioned marketing strategies.

Technical risks: Due to the development and operation of websites and mobile applications, technical failures or attacks may be encountered, which may affect the stability or security of the platform. In order to cope with this risk, the enterprise needs to carry out technical docking and cooperation with partners, and adopt advanced technical means and methods, carry out technical testing and optimization, and establish technical backup and recovery mechanism.

Logistics risk: due to cross-border logistics transportation and customs clearance may encounter delays or damage, which may affect the logistics efficiency or quality of the platform. In order to cope with this risk, the enterprise needs to carry out logistics docking and collaboration with partners and logistics partners, and adopt reliable logistics ways and methods, carry out logistics tracking and monitoring, and establish logistics insurance and compensation mechanism.

Customer risk: As consumers' trust and satisfaction with cross-border e-commerce may not be high, it may affect the number of customers or loyalty of the platform. In order to deal with this risk, the enterprise needs to provide high-quality customer service and after-sales protection with its partners, and adopt effective customer relationship management and marketing strategies to improve and maintain customer satisfaction and loyalty.

Monitoring and evaluation indicators: In order to monitor and evaluate the implementation and effectiveness of the market entry plan, the company has developed the following indicators:

Number of registered users: refers to the number of consumers registered on the platform, reflecting the market coverage and popularity of the platform.

Number of suppliers: refers to the number of suppliers registered on the platform, reflecting the supply capacity and quality of the platform.

Sales: The amount of transactions completed on the platform, reflecting the market share and revenue level of the platform.

Profit margin: Refers to the ratio of the platform's revenue to costs, reflecting the profitability and efficiency of the platform.

Customer satisfaction: refers to the degree of consumer satisfaction with the platform's goods and services, reflecting the platform's customer value and loyalty.

Customer retention rate: refers to the rate of consumers using the platform again within a certain period of time, reflecting the customer stickiness and loyalty of the platform.

Case 2: Indian market entry consulting for an automobile manufacturer

A car manufacturer, a multinational company focused on the production of high-end cars, wants to operate in the Indian market to seize the growth opportunities and challenges in the Indian market. The company commissioned Champ Consulting to provide it with Indian market entry consulting services.

Champ Consulting first conducted in-depth communication with the company to understand its background, needs, goals, expectations, etc., as well as its knowledge and assumptions about the Indian market. Then, by collecting and sorting out the relevant data and information of the Indian market, Shangpu Consulting conducted a comprehensive and in-depth analysis of the Indian market, identifying the opportunities and risks of the Indian market, as well as the advantages and disadvantages of the company in the Indian market. Using tools and methods such as PEST analysis, Porter's five-force model, SWOT analysis and STP analysis, Shangpu Consulting reveals the characteristics and trends of the Indian market, as well as the competitiveness and development potential of the enterprise in the Indian market from different dimensions and levels.

Based on the results of the market analysis, Shangpu Consulting has segmented and evaluated the Indian market and selected the market segment or region with the most potential and most suitable for the enterprise. Shangpu Consulting found that although the overall scale of the Indian market is large and growing rapidly, there are also challenges such as lower per capita income, higher import tariffs, poor infrastructure, and more complex cultural differences. Therefore, Shangpu Consulting recommends that the enterprise adopt a targeted and step-by-step market selection strategy, that is, first select a relatively easy to enter and representative market segment or region as a pilot, and then gradually expand to other market segments or regions based on the experience and effects of the pilot. After comparative analysis, Shangpu Consulting recommend the high-end car market in India as the preferred market segment of the company, because the market segment has the following advantages: the market size is large and the growth rate is fast, and it is expected to reach US $10 billion by 2025; the market competitiveness is low, and only a few international brands currently occupy the main market share; consumer demand is high, there is a strong willingness to buy high-end cars and the ability to pay; laws and regulations are more flexible, and import tariffs and restrictions on high-end cars are lower.

Based on the results of the market selection, Champu Consulting has determined how the company will operate in the high-end car market in India, namely the market entry mode. Champu Consulting has comprehensively considered the advantages and disadvantages of various market entry models, as well as the company's resource capabilities, the characteristics and competition of the Indian high-end car market, and the company's long-term planning for the Indian high-end car market. trade-off. Champ Consulting offers the company two alternative market entry models: acquisition and franchising. Acquisition refers to the acquisition of a local car manufacturer or dealer with strong influence and resources in India, and the production or sales of its own brand cars through it. The advantage of this model is that it can quickly gain market share and channels in India, as well as take advantage of the acquired party's market knowledge, technical capabilities, and government relations. However, this model also has high cost, risk and difficulty, which requires the enterprise to invest a lot of capital, manpower, technology and other resources, as well as cultural differences, management problems, financial problems and so on. Franchising means that the enterprise authorizes one or more local car manufacturers or dealers with strong influence and resources in India to use the production or sales rights of their own brand cars and collect a certain percentage of the franchise fee or sales commission. The advantage of this model is that it can reduce entry costs and risks, as well as take advantage of the franchisor's channel resources, customer resources, and operational capabilities. However, this model also has lower revenue and control, which requires the enterprise to coordinate and distribute benefits with the franchisor, as well as the possibility of competition or betrayal by the franchisor. According to the actual situation of the enterprise and the actual situation of the target market, the franchise model is recommend as the preferred model, and the corresponding reasons and basis are given.

According to the results of the market entry model, Shangpu Consulting has formulated a specific, feasible and flexible market entry plan, including objectives, strategies, actions, resources, budgets, timetables, etc., and formulated corresponding risk response measures and monitoring and evaluation indicators. Champ Consulting has developed the following market entry plan for the business:

Goal: Within one year, establish a stable and competitive brand image in the Indian high-end car market, and achieve at least 5000 sales, 5% market share, and 10% profit margin.

Strategy: Franchise with one or more local car manufacturers or dealers with strong influence and resources in India, and use them to produce or sell their own brand cars. This brand car is mainly aimed at middle and high-end consumers, providing high-high quality, high-performance, high-tech automotive products, as well as providing high-quality customer service and after-sales protection. The core competencies of the brand's cars are to provide a car experience that is comparable or superior to international brands, as well as to provide car design and functionality that is integrated with Indian culture.

Actions: Specific actions include the following:

Sign a franchise agreement with the franchisor to clarify the rights and obligations of both parties, as well as the principles of benefit distribution and risk-taking.

Provide relevant technical support and training to the special contractor to ensure that it can produce or sell branded cars in accordance with the standards and requirements of the company.

To provide relevant market support and supervision to the Licensee to ensure that it can carry out the promotion and distribution of branded cars in accordance with the strategy and plan of the enterprise.

Establish a special project platform with the Franchisor for information exchange, opinion communication, problem solving, etc. with the Franchisor. The project platform can use the Internet, telephone, video conference and other ways to regularly report and evaluate the progress of the project.

Carry out a series of marketing activities in India, including online advertising, social media, word-of-mouth marketing, offline activities, etc., to improve the visibility and credibility of brand cars.

Establish a professional customer service team in India and provide customer service services in multiple languages and channels to improve customer satisfaction and loyalty.

Resources: In order to implement the market entry plan, the enterprise needs to invest the following resources:

Capital: The company needs to invest about US $10 million in capital for technical support, market support, market promotion, etc. The funds are financed by the enterprise itself.

Manpower: The company needs to invest about 20 people for project supervision, technical training, market supervision, customer service services, etc. This manpower is provided by the enterprise itself and interfaces and collaborates with the Franchisor.

Technology: The company needs to invest about 10 people in technology for technical support, technical training, data analysis, etc. The technology is provided by the enterprise itself and is in technical interface and collaboration with the franchisor.

Budget: According to the input of resources and market conditions, the enterprise is expected to achieve the following income and expenditure within one year:

Revenue: The company expects to achieve sales of about 5000 vehicles within a year, of which about 80% will come from mid-to high-end consumers and 20% from low-end consumers. The sales volume shall be paid by the franchisor to the enterprise a certain percentage of the franchise fee or sales commission in accordance with the provisions of the franchise agreement. The business is expected to receive approximately $20 million in revenue from the Franchisor.

Expenditure: The company expects to spend about US $10 million within one year, of which about 80% will be used for technical support, market support, market promotion, etc., 10% will be used for customer service, after-sales protection, etc., and 10% will be used for management Expenses, taxes, etc. The cost is borne by the enterprise itself.

Profits: The business is expected to realize a profit of about $10 million within a year, of which about $8 million will be enjoyed by the business itself and $2 million by the franchisor. This profit is due to less initial investment in market entry and more revenue. The company expects to achieve higher profits in the second year and a higher market share in the third year.

Timetable: According to the content and difficulty of the market entry plan, the enterprise has formulated the following timetable:

First Quarter: Complete communication and agreement with the Franchisor, establish the project platform, start technical support and training, and start marketing activities.

Second quarter: Complete technical support and training, start marketing support and supervision, continue marketing activities, and conduct data analysis and performance evaluation.

The third quarter: officially start the production or sales of brand cars, start receiving orders and deliveries from customers, establish a customer service team and provide customer service services, continue marketing activities, and carry out risk response and problem solving.

Fourth quarter: Optimize and adjust the production or sales of brand cars, increase product types and quantities, expand the scope and intensity of market promotion, improve customer satisfaction and loyalty, and carry out profit distribution and project summary.

Risk response measures: according to the content and difficulty of the market entry plan, the enterprise has identified the following possible risks and formulated corresponding countermeasures:

Legal Risk: Due to changes or uncertainties in Indian laws and regulations, the legality or compliance of branded cars may be affected. In order to deal with this risk, the company needs to maintain close communication and collaboration with the Franchisor, timely understand and comply with the legal and regulatory requirements of India, and seek professional legal advice and support.

Competitive risk: As there are already some strong competitors in India's premium car market, it may affect the market share or profit margin of brand cars. In order to deal with this risk, the enterprise needs to make full use of the advantageous resources of both parties with the franchisor, provide distinctive and valuable products and services, and carry out differentiated and positioned marketing strategies.

Technical risk: Due to the production or sales of branded cars, technical failures or attacks may be encountered, which may affect the quality or safety of branded cars. In order to deal with this risk, the enterprise needs to carry out technical docking and cooperation with the franchisor, and adopt advanced technical means and methods, carry out technical testing and optimization, and establish technical backup and recovery mechanism.

Logistics risk: As the transportation and delivery of branded cars may encounter delays or damage, it may affect the logistics efficiency or quality of branded cars. In order to cope with this risk, the enterprise needs to carry out logistics docking and cooperation with the franchisee and logistics partners, and adopt reliable logistics ways and methods, carry out logistics tracking and monitoring, and establish logistics insurance and compensation mechanism.

Customer risk: Because consumers' trust and satisfaction with branded cars may not be high, it may affect the number or loyalty of branded cars. To address this risk, the company needs to work with the Franchisor to provide quality customer service and after-sales assurance, and to adopt effective customer relationship management and marketing strategies to enhance and maintain customer satisfaction and loyalty.

Monitoring and evaluation indicators: In order to monitor and evaluate the implementation and effectiveness of the market entry plan, the company has developed the following indicators:

Sales volume: refers to the number of brand car sales completed in the Indian high-end car market, reflecting the market coverage and popularity of brand cars.

Market share: refers to the proportion of sales of brand cars completed in the Indian high-end car market to total sales, reflecting the market competitiveness and income level of brand cars.

Profit margin: Refers to the ratio of revenue to cost of the brand car, reflecting the profitability and efficiency of the brand car.

Customer satisfaction: refers to the degree of consumer satisfaction with the products and services of the brand car, reflecting the customer value and loyalty of the brand car.

Customer retention rate: refers to the rate of consumers buying brand cars again within a certain period of time, reflecting the customer stickiness and loyalty of brand cars.

Case 3: Advising a financial service provider on market entry in Africa

A financial service provider is an Internet company that focuses on providing financial services such as mobile payments, e-wallets, and digital banking. It hopes to operate in the African market to seize the growth opportunities and challenges in the African market. The company commissioned Champpe Consulting to provide it with African market entry consulting services.

Champ Consulting first conducted in-depth communication with the company to understand its background, needs, goals, expectations, etc., as well as its knowledge and assumptions about the African market. Then, by collecting and sorting out the relevant data and information of the African market, Shangpu Consulting conducted a comprehensive and in-depth analysis of the African market, identifying the opportunities and risks of the African market, as well as the advantages and disadvantages of the enterprise in the African market. Using tools and methods such as PEST analysis, Porter's five forces model, SWOT analysis and STP analysis, Shangpu Consulting reveals the characteristics and trends of the African market, as well as the competitiveness and development potential of the enterprise in the African market from different dimensions and levels.

Based on the results of the market analysis, Champu Consulting has segmented and evaluated the African market, selecting the market segment or region with the most potential and most suitable for the enterprise. Shangpu Consulting found that although the overall scale of the African market is relatively small, there is also a high growth potential and low competitive pressure, especially in the financial services fields such as mobile payment, electronic wallet, and digital banking. Therefore, Shangpu Consulting recommends that the enterprise adopt a targeted and step-by-step market selection strategy, that is, first select a relatively easy to enter and representative market segment or region as a pilot, and then gradually expand to other market segments or regions based on the experience and effects of the pilot. After comparative analysis, Champu Consulting recommend Kenya as the preferred market segment or region for the company because Kenya has the following advantages: the market size is large and the growth rate is fast, which is expected to reach 5 billion US dollars by 2025; the market competitiveness is low, and only a few international brands currently occupy the main market share; consumer demand is high, strong willingness to use and ability to pay for financial services such as mobile payments, e-wallets, and digital banking; laws and regulations are more flexible, and there are no excessive restrictions and regulations on the entry and operation of financial services.

Based on the results of the market selection, Champ Consulting has determined how the enterprise will operate in the Kenyan market, namely the market entry mode. Shangpu Consulting Company has comprehensively considered the advantages and disadvantages of various market entry modes, as well as the resource capacity of the enterprise, the characteristics and competition of the Kenyan market, as well as the long-term planning of the enterprise for the Kenyan market. The enterprise needs to carry out technical docking and cooperation with the franchisor, and adopt advanced technical means and methods to carry out technical testing and optimization, And establish a technical backup and recovery mechanism.

Logistics risk: As the transportation and delivery of branded cars may encounter delays or damage, it may affect the logistics efficiency or quality of branded cars. In order to cope with this risk, the enterprise needs to carry out logistics docking and cooperation with the franchisee and logistics partners, and adopt reliable logistics ways and methods, carry out logistics tracking and monitoring, and establish logistics insurance and compensation mechanism.

Customer risk: Because consumers' trust and satisfaction with branded cars may not be high, it may affect the number or loyalty of branded cars. To address this risk, the company needs to work with the Franchisor to provide quality customer service and after-sales assurance, and to adopt effective customer relationship management and marketing strategies to enhance and maintain customer satisfaction and loyalty.

Monitoring and evaluation indicators: In order to monitor and evaluate the implementation and effectiveness of the market entry plan, the company has developed the following indicators:

Sales volume: refers to the number of brand car sales completed in the Indian high-end car market, reflecting the market coverage and popularity of brand cars.

Market share: refers to the proportion of the sales of brand cars completed in the Indian high-end car market to the sales of the entire high-end car market, reflecting the market competitiveness and income level of brand cars.

Profit margin: Refers to the ratio of revenue to cost of the brand car, reflecting the profitability and efficiency of the brand car.

Customer satisfaction: refers to the degree of consumer satisfaction with the products and services of the brand car, reflecting the customer value and loyalty of the brand car.

Customer retention rate: refers to the rate of consumers buying brand cars again within a certain period of time, reflecting the customer stickiness and loyalty of brand cars.

Case 3: Advising a financial service provider on market entry in Africa

A financial service provider is an Internet company that focuses on providing financial services such as mobile payments, e-wallets, and digital banking. It hopes to operate in the African market to seize the growth opportunities and challenges in the African market. The company commissioned Champpe Consulting to provide it with African market entry consulting services.

Champ Consulting first conducted in-depth communication with the company to understand its background, needs, goals, expectations, etc., as well as its knowledge and assumptions about the African market. Then, by collecting and sorting out the relevant data and information of the African market, Shangpu Consulting conducted a comprehensive and in-depth analysis of the African market, identifying the opportunities and risks of the African market, as well as the advantages and disadvantages of the enterprise in the African market. Using tools and methods such as PEST analysis, Porter's five forces model, SWOT analysis and STP analysis, Shangpu Consulting reveals the characteristics and trends of the African market, as well as the competitiveness and development potential of the enterprise in the African market from different dimensions and levels.

Based on the results of the market analysis, Champu Consulting has segmented and evaluated the African market, selecting the market segment or region that has the most potential and is most suitable for the enterprise. Shangpu Consulting found that although the overall scale of the African market is relatively small, there is also a high growth potential and low competitive pressure, especially in the financial services fields such as mobile payment, electronic wallet, and digital banking. Therefore, Shangpu Consulting recommends that the enterprise adopt a targeted and step-by-step market selection strategy, that is, first select a relatively easy to enter and representative market segment or region as a pilot, and then gradually expand to other market segments or regions based on the experience and effects of the pilot.

After comparative analysis, Champu Consulting recommend Kenya as the preferred market segment or region for the company because Kenya has the following advantages: the market size is large and the growth rate is fast, which is expected to reach 5 billion US dollars by 2025; the market competitiveness is low, and only a few international brands currently occupy the main market share; consumer demand is high, strong willingness to use and ability to pay for financial services such as mobile payments, e-wallets, and digital banking; laws and regulations are more flexible, and there are no excessive restrictions and regulations on the entry and operation of financial services.

Based on the results of the market selection, Champ Consulting has determined how the enterprise will operate in the Kenyan market, namely the market entry mode. Champu Consulting has comprehensively considered the advantages and disadvantages of various market entry modes, as well as the resource capabilities of the enterprise, the characteristics and competition of the Kenyan market, and the enterprise's long-term planning for the Kenyan market. Champ Consulting offers two alternative market entry modes for the business: independent entry and joint venture.

Independent entry means that the company itself builds its own platform and system in Kenya, directly facing consumers and partners. The advantage of this model is that it can maintain complete control over the business and independent decision-making, as well as obtain higher revenue and brand influence. However, this model also has high cost, risk and difficulty, which requires the enterprise to invest a lot of capital, manpower, technology and other resources, as well as face fierce competition and uncertain legal environment.

A joint venture means that the company cooperates with a local financial service provider with strong influence and resources in Kenya to jointly operate a financial service platform such as mobile payment, e-wallet, and digital banking. The advantage of this model is that it can take advantage of partners' market knowledge, channel resources, government relations and other advantages to reduce entry barriers and risks, as well as improve market acceptance and trust. However, this model also has lower returns and control, which requires the enterprise to coordinate and distribute benefits with its partners, as well as the possibility of facing competition or betrayal by its partners.

According to the actual situation of the enterprise and the actual situation of the target market, the company recommend the joint venture model as the preferred model, and gives the corresponding reasons and basis.

According to the results of the market entry model, Shangpu Consulting has formulated a specific, feasible and flexible market entry plan, including objectives, strategies, actions, resources, budgets, timetables, etc., and formulated corresponding risk response measures and monitoring and evaluation indicators. Champ Consulting has developed the following market entry plan for the business:

Goal: Within one year, establish a stable and competitive financial service platform for mobile payment, e-wallet, digital banking and other financial services in the Kenyan market, and achieve at least 1 million registered users, 100000 active users and a transaction volume of US $10 million.

Strategy: Joint venture with a local financial service provider with strong influence and resources in Kenya, and jointly operate a financial service platform such as mobile payment, e-wallet and digital banking. The platform is mainly aimed at low-income and unbanked consumers, providing convenient, safe and low-cost financial services, as well as providing high-quality customer service and after-sales protection. The core competencies of the platform are to provide a financial experience that is comparable or superior to international brands, as well as to provide financial design and functionality that is integrated with African culture.

Actions: Specific actions include the following:

Sign a joint venture agreement with the partner, specifying the rights and obligations of both parties, as well as the principles of distribution of benefits and risk-taking.

Establish a special project team, and each party will send a certain number of personnel to be responsible for the construction, operation and management of the platform. The leadership of the project team is determined by both parties, and the members of the project team are managed by both parties.

Establish a special project platform for information exchange, opinion communication and problem solving with partners. The project platform can use the Internet, telephone, video conference and other ways to regularly report and evaluate the progress of the project.

Register a new company in Kenya as the legal subject of the joint venture platform and apply for relevant licenses and documents to comply with the legal and regulatory requirements of Kenya.

Establish a new website and mobile application in Kenya as technical support for the joint venture platform, and conduct related testing and optimization to ensure the stability and security of the platform.

Establish a new system and network in Kenya as the financial support of the joint venture platform, and coordinate and interface with Kenyan and international financial partners to ensure the convenience, security and low cost of financial services.

Carry out a series of marketing activities in Kenya, including online advertising, social media, word-of-mouth marketing, offline activities, etc., to improve the visibility and credibility of the platform.

Establish a professional customer service team in Kenya and provide customer service services in multiple languages and channels to improve customer satisfaction and loyalty.

Resources: In order to implement the market entry plan, the enterprise needs to invest the following resources:

Funds: The company needs to invest about US $5 million in funds for platform construction, system construction, and marketing. The funds are contributed by both parties in proportion to their respective shareholdings.

Manpower: The company needs to invest about 50 people for project team, website development, system development, customer service and so on. The manpower shall be allocated by both parties according to their respective work contents.

Technology: The company needs to invest about 10 people in technology for website development, system development, data analysis, etc. The technology is provided by the company itself and is connected and collaborated with partners.

Budget: According to the input of resources and market conditions, the enterprise is expected to achieve the following income and expenditure within one year:

Revenue: The company expects to achieve about $10 million in transactions within a year, of which about 80% will come from low-income and unbanked consumers and 20% from middle-to high-income and banked consumers. The transaction is divided between the parties in proportion to their respective shareholdings.

Expenditure: The company expects to spend about US $5 million within one year, of which about 60% will be used for platform construction, system construction, marketing, etc., 20% will be used for financial service fees, network fees, etc., 10% will be used for customer service, after-sales guarantee, etc., and 10% will be used for management fees, taxes, etc. The cost shall be borne by both parties in proportion to their respective contributions.

Profits: The business is expected to realize a profit of about $5 million within a year, of which about $4 million is enjoyed by the business and $1 million by the partners. This profit is due to less initial investment in market entry and more revenue. The company expects to achieve higher profits in the second year and a higher market share in the third year.

Timetable: According to the content and difficulty of the market entry plan, the enterprise has formulated the following timetable:

The first quarter: complete the communication and agreement with partners, establish the project team and project platform, register the new company and apply for relevant licenses and certificates, and start the development of website and mobile application.

Second quarter: Complete the development and testing of websites and mobile applications, establish systems and networks, interface with financial partners, and start marketing activities.

The third quarter: officially launched the platform operation, began to receive customer registration and transactions, set up a customer service team and provide customer service services, continue marketing activities, and conduct data analysis and effect evaluation.

Fourth quarter: Optimize and adjust the platform operation, increase the type and quantity of financial services, expand the scope and intensity of market promotion, improve customer satisfaction and loyalty, and carry out profit distribution and project summary.

Risk response measures: according to the content and difficulty of the market entry plan, the enterprise has identified the following possible risks and formulated corresponding countermeasures:

Legal risk: Due to the possibility of changes or uncertainties in laws and regulations in Africa, the legality or compliance of financial services may be affected. In order to cope with this risk, the company needs to maintain close communication and collaboration with partners, timely understand and comply with African legal and regulatory requirements, and seek professional legal advice and support.

Competition risk: As there are already some strong competitors in the financial services market in Africa, it may affect the market share or profit margin of financial services. In order to cope with this risk, the company needs to make full use of the advantages of both partners, provide distinctive and valuable financial services, and carry out differentiated and positioned marketing strategies.

Technical risks: The provision and use of financial services may encounter technical failures or attacks, which may affect the stability or security of financial services. In order to cope with this risk, the enterprise needs to carry out technical docking and cooperation with partners, and adopt advanced technical means and methods, carry out technical testing and optimization, and establish technical backup and recovery mechanism.

Logistics risk: Due to the provision and use of financial services may encounter network delays or interruptions, which may affect the convenience or quality of financial services. In order to deal with this risk, the enterprise needs to network interface and cooperate with partners and network partners, adopt reliable network methods and methods, carry out network testing and optimization, and establish network backup and recovery mechanisms.

Customer risk: As consumer trust and satisfaction with financial services may not be high, it may affect the number or loyalty of customers of financial services. In order to deal with this risk, the enterprise needs to provide high-quality customer service and after-sales protection with its partners, and adopt effective customer relationship management and marketing strategies to improve and maintain customer satisfaction and loyalty.

Monitoring and evaluation indicators: In order to monitor and evaluate the implementation and effectiveness of the market entry plan, the company has developed the following indicators:

Number of registered users: refers to the number of consumers registered on the platform, reflecting the market coverage and popularity of the platform.

Number of active users: refers to the number of consumers who have conducted at least one transaction on the platform, reflecting the market activity and usage of the platform.

Transaction Value: The amount of transactions completed on the platform, reflecting the market share and revenue level of the platform.

Profit margin: Refers to the ratio of the platform's revenue to costs, reflecting the profitability and efficiency of the platform.

Customer satisfaction: refers to the degree of consumer satisfaction with the platform's financial services, reflecting the platform's customer value and loyalty.

Customer retention rate: refers to the rate of consumers using the platform again within a certain period of time, reflecting the customer stickiness and loyalty of the platform.

Summary of 5. market entry consultation

Market entry consulting is a kind of consulting service to help customers develop business in a new market or new region. It involves consulting and supporting the analysis, selection, entry and operation of the target market. The purpose of market entry consulting is to help clients achieve successful and sustainable development in new markets or new regions, as well as to improve their competitiveness and profitability.

The process of market entry consulting generally includes the following steps:

Conduct in-depth communication with customers to understand their background, needs, goals, expectations, etc., as well as their perceptions and assumptions about the target market.

By collecting and organizing the relevant data and information of the target market, a comprehensive and in-depth analysis of the target market is conducted to identify the opportunities and risks of the target market, as well as the advantages and disadvantages of the customer in the target market.

Segment and evaluate the target market, select the market segment or region with the most potential and most suitable for customers.

Determine how the customer operates in the target market segment or region, I .e. the market entry mode.

Formulate specific, feasible and flexible market entry plans, including objectives, strategies, actions, resources, budgets, timetables, etc., and formulate corresponding risk response measures and monitoring and evaluation indicators.

Provide customers with detailed market entry plans, as well as implementation support and monitoring and evaluation services.

Market entry consulting skills generally include the following aspects:

Use effective communication skills to build a trusting relationship with customers, understand their real needs and expectations, as well as their perceptions and assumptions about the target market.

Use scientific analysis skills to collect and organize relevant data and information about the target market, and use appropriate tools and methods to reveal the characteristics and trends of the target market, as well as the competitiveness and development potential of customers in the target market from different dimensions and levels.

Use innovative selection techniques to segment and evaluate the target market, select the market segment or region with the most potential and most suitable for the customer, taking into account the customer's resource capacity, the characteristics and competition of the target market, and the customer's long-term planning for the target market.

Use professional advice skills to determine the customer's operation mode in the target market segment or region, I .e. the market entry mode, and give a reasonable and feasible market entry mode, as well as the corresponding reasons and basis.

Use practical planning techniques to develop specific, feasible and flexible market entry plans, including objectives, strategies, actions, resources, budgets, timetables, etc., and to develop appropriate risk response measures and monitoring and evaluation indicators to ensure the successful and sustainable implementation of the market entry plan.

Use clear presentation skills to provide customers with detailed market entry plans, as well as implementation support and monitoring and evaluation services to ensure that customers understand and agree with the market entry plan, as well as trust and satisfaction with the consulting firm.