Market entry consulting is a specialized consulting service that requires deep industry knowledge, market insight, strategic thinking and execution skills. However, in practice, we have found that some companies have the following ten misconceptions about market entry consulting:

Misunderstanding 1: Market entry consultation is to do market research.

Market research is an important part of market entry consulting, but not all. Market research can only provide objective data and information, not a substitute for subjective judgment and decision-making. Market entry consulting not only does market research, but also develops appropriate entry strategies based on the client's goals, resources and capabilities, and provides implementation support and follow-up assessments.

For example, Champ Consulting once provided China market entry consulting services for a European auto parts manufacturer. We not only conducted a comprehensive analysis of China's auto parts market, but also recommend three different entry modes based on customers' product advantages, competitiveness and risk preferences: direct export, joint venture and sole proprietorship, and analyzed The advantages and disadvantages of each model, cost-benefit and implementation difficulty. In the end, the customer chose the joint venture model and reached a cooperation agreement with a local enterprise with our assistance.

Misunderstanding two: market entry consulting is to copy the successful experience

Each market has its own uniqueness and complexity, and the successful experience of one region or industry cannot be simply transplanted to another region or industry. Market entry consulting requires a customized analysis and design for each market, taking into account the characteristics, objectives and needs of the client, as well as the market environment, rules and changes. Market entry consulting is not to copy successful experience, but to create the conditions for success.

For example, Champ Consulting once provided Indian market entry consulting services for an American fast fashion brand. We find that the Indian market is very different from the US market, such as consumption habits, cultural preferences, income levels, channel structure, etc. Therefore, we recommend that customers adopt different strategies in the Indian market from the US market, such as adjusting product design, pricing and promotion, selecting appropriate partners and distribution channels, and strengthening brand promotion and social responsibility. Through these measures, customers have achieved good performance and reputation in the Indian market.

Myth 3: Market entry consulting is to provide standardized solutions.

Market entry consulting is not to provide a set of fixed templates or processes, but to provide tailor-made solutions according to the actual situation of each customer. Market entry consulting requires full communication and collaboration with customers, understanding customer needs and expectations, collecting and verifying customer information and data, feedback and discussion of analysis results and recommendations to ensure the feasibility and effectiveness of the program.

For example, Champ Consulting once provided Southeast Asian market entry consulting services for a Japanese cosmetics company. We found that there are many countries and regions in the Southeast Asian market, and the market size, consumption level, competition pattern, and legal system of each country and region are different. Therefore, instead of providing a unified plan, we have selected several target countries with potential and advantages for our clients according to their budgets and capabilities, and formulated different entry strategies and action plans for each country.

Myth 4: Market entry consultation is to give the optimal solution.

Market entry consultation is not to give a single correct or optimal solution, but to give a relatively reasonable or optimal choice. Market entry consulting requires comprehensive trade-offs and compromises under the influence of multiple factors, taking into account the long-term interests and short-term effects of the client, as well as the stability and variability of the market. Market entry consulting is not to give the best solution, but to help customers make the best decision.

For example, Champ Consulting once provided African market entry consulting services for an Australian dairy company. We find that there are many opportunities and challenges in the African market, such as growing demand, fierce competition, poor infrastructure, and political instability. Therefore, instead of giving an optimal solution, we provide several options for our clients based on their risk tolerance and return expectations, and analyze the advantages and disadvantages, risk benefits, and ease of implementation of the various options. In the end, the customer chose one of the options based on their own judgment and preferences and implemented it under our guidance.

Myth 5: Market entry consulting is a one-time project.

Market entry consulting is not a one-time project, but an ongoing process. Market entry consultation requires that after the completion of the scheme design, follow-up work such as scheme implementation, effect evaluation, problem solving and strategy adjustment should be carried out. Market entry consulting requires a long-term relationship with the client, providing ongoing support and service.

For example, Champ Consulting once provided China market entry consulting services for a British educational institution. We not only formulate the Chinese market entry strategy for customers, and assist customers to establish cooperative relations with local governments, schools, institutions, etc., but also provide customers with operations management, market promotion, talent training and other services in the Chinese market, and regularly communicate with customers And feedback to help customers cope with market changes and challenges.

Myth 6: Market entry consultation is an act of spending money on time.

Market entry advice is not an act of spending money on time, but an act of investing in the future. Market entry consulting requires customers to pay a certain cost and time, but these costs and time are worth it, because market entry consulting can help customers save more costs and time, increase more revenue and profits, and enhance more competitiveness and advantages. Market entry consulting is not an act of spending money to buy time, but an act of creating value.

For example, Champ Consulting once provided Middle East market entry consulting services for a French luxury brand. We found that there are many special and sensitive factors in the Middle East market, such as religious beliefs, cultural customs, consumer psychology, etc. Therefore, we advise our customers to adopt prudent and flexible strategies in the Middle East market, such as adjusting product packaging, labeling and publicity, complying with local laws and regulations, respecting local customs and beliefs, and establishing good relations with local authorities and influencers. Although these measures require customers to invest a certain amount of cost and time, they also help customers avoid some potential risks and crises, and win the recognition and trust of local consumers.

Myth 7: Market entry consultation is a substitute for your own thinking.

Market entry consultation is not an act of replacing one's own thinking, but an act of promoting one's own thinking. Market entry consulting requires customers to actively participate and cooperate, provide true and complete information and data, express clear and clear needs and expectations, and give timely and effective feedback and evaluation. Market entry consultation is not a substitute for thinking, but to help yourself think.

For example, Champ Consulting once provided South American market entry consulting services for a German medical device company. We find that there are many opportunities and challenges in the South American market, such as increasing demand, fierce competition, complex regulations, and trade barriers. Therefore, we did not give a simple or fixed plan, but conducted many discussions and communication with customers to help customers clarify their goals and strategies, and constantly modify and improve the plan based on customer feedback and evaluation.

Myth 8: Market entry consulting is a behavior that relies on external forces.

Market entry consultation is not an act of relying on external forces, but an act of using external forces. Market entry consulting requires customers to make full use of their own resources and capabilities, give full play to their own advantages and characteristics, and combine the professional knowledge, experience, methods, networks, etc. provided by external forces to form an organic whole. Market entry consulting is not dependent on external forces, but in cooperation with external forces.

For example, Champu Consulting once provided European market entry consulting services for a Chinese e-commerce company. We found that there are many different countries and regions in the European market, and each country and region has different market characteristics, consumption habits, competition patterns, and legal systems. Therefore, we recommend that customers adopt a regional strategy in the European market, according to the characteristics of each country and region, choose the appropriate products, prices, channels, promotions, etc., and establish a good relationship with local partners and institutions. At the same time, we also help customers use their own e-commerce platform, logistics system, data analysis and other advantages to improve efficiency and quality.

Myth 9: Market entry consulting is an act to ensure success.

Market entry counseling is not an act that guarantees success, but an act that improves success. Market entry consulting requires clients to recognize that market entry is a complex and uncertain process, subject to a variety of internal and external factors, with various risks and obstacles. Market entry consulting is not a guarantee of success, but a reduction in failure.

For example, Champ Consulting once provided African market entry consulting services for a Canadian agrotechnology company. We found that there are many needs and potentials in the African market, but there are also many difficulties and challenges, such as backward infrastructure, political instability, social unrest, and widespread poverty. Therefore, we did not give an overly optimistic or idealistic plan, but a realistic or conservative plan, and remind customers to pay attention to various possible problems and risks, and formulate countermeasures and plans.

Myth 10: Market entry consultation is an act of spending money to find trouble.

Market entry consultation is not an act of spending money to find trouble, but an act of spending money to save trouble. Market entry consultation requires customers to realize that market entry itself is a troublesome thing, which requires a lot of energy and time, and faces many difficulties and problems. Market entry consultation is not to spend money to find trouble, but to spend money to solve trouble.

For example, Champ Consulting once provided U.S. market entry advisory services to a Singapore-based financial services company. We find that there are many opportunities and challenges in the US market, such as huge demand, fierce competition, strict supervision and complex laws. Therefore, we do not give a simple or easy plan, but give a detailed or thorough plan, and assist customers to complete all necessary preparation and application work, such as registering a company, applying for a license, complying with regulations, paying taxes and fees, etc., and provide timely and effective help and support when encountering any problems or difficulties.

Conclusion

Market entry consulting is a kind of professional, customized, comprehensive, sustainable, valued, thinking, cooperative, probabilistic and solution consulting service. It can help businesses grow and develop in new regions, countries or industries. However, there are also some misunderstandings and misunderstandings in market entry consulting, which lead to misjudgment or abuse by some enterprises. From a professional point of view, this paper analyzes the ten misunderstandings of market entry consulting, and gives corresponding suggestions and solutions in the light of the specific cases of Shangpu consulting service customers. It is hoped that this paper can help enterprises to correctly understand and use market entry consultation, and improve the efficiency and effect of market entry.