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2024-07-18 17:47:16 Source: Champ Consulting Visits:0
Myth 1: Market entry consultation is just a market research
Market research is an important part of market entry consulting, but not all. The purpose of market research is to collect and analyze information about the target market, including market size, growth rate, competitive landscape, consumer demand, laws and regulations, etc. However, market research alone cannot guarantee the success of market entry. It is also necessary to formulate appropriate strategies and action plans based on the research results, and effectively implement and monitor them.
For example, Champ Consulting once provided China market entry consulting services for a European auto parts manufacturer. The company has a potential partner in China and wants to enter the Chinese market by cooperating with it. Shangpu Consulting not only conducted in-depth research on China's auto parts market, but also conducted a detailed evaluation of the company and its partners, including the products, technology, finance, management, culture and other aspects of both parties. Based on these analyses, Champu developed a detailed draft cooperation agreement for the company, as well as an implementation roadmap and risk response measures. Champu Consulting also provided continuous support and monitoring after the signing of the cooperation agreement to ensure that the two parties can cooperate smoothly and resolve possible problems in a timely manner.
Myth 2: Market entry consultation only needs one-time service
Market entry consultation is not a one-time service, but an ongoing process. Market entry consulting requires not only adequate preparation and planning in the early stages, but also effective implementation and evaluation in the later stages. Market entry consulting also needs to be adjusted and optimized as the market environment and corporate objectives change.
For example, Champ Consulting once provided Indian market entry consulting services for an American education technology company. The company owns an online education platform and wants to leverage India's large population and education needs to expand its reach. After conducting a comprehensive market research and competitive analysis for the company, Shangpu Consulting recommended that the company adopt a "gradual" market entry strategy, that is, starting with some specific cities and areas, and then gradually expanding to other regions and areas. Champu Consulting also provides the company with a series of market entry solutions, including product positioning, pricing, channels, marketing, partners, etc. After entering the Indian market, Shangpu Consulting has also provided continuous consulting services for the company, including market feedback, data analysis, problem solving, strategy adjustment, etc.
Myth 3: Market entry advice only requires external experts
Market entry consulting requires external experts, but also internal involvement. External experts can provide objective perspectives and expertise, but internal participation is also needed to provide more information and support. Market entry consultation is a two-way communication and collaboration process that requires both external experts and internal participants.
For example, Champu Consulting once provided Thai market entry consulting services for a Japanese cosmetics company. The company wants to take advantage of Thai women's love and trust in Japanese cosmetics to open up new markets. After conducting research and analysis of the Thai cosmetics market for the company, Shangpu Consulting found that the company needs to make some adjustments and innovations in products, brands, channels, etc. to meet the needs and preferences of Thai consumers. When formulating the market entry plan, Shangpu Consulting fully solicited the opinions and suggestions of various departments and levels within the company, and actively maintained communication and coordination with the company during the implementation process to ensure that the market entry plan can be successfully implemented.
Conclusion
Market entry consulting is a valuable professional service that can help businesses launch their business in a new market or region. However, there are also some common misunderstandings in market entry consulting, which need to be paid attention to and avoided by enterprises and consulting agencies. This paper introduces the three misunderstandings of market entry consultation, namely: market entry consultation is only to do market research; market entry consultation only needs one-time service; market entry consultation only needs external experts. This article also introduces how to avoid these misunderstandings, so as to improve the effect and value of market entry consultation.
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