Market entry consulting is a common consulting service, which involves many fields and levels, and requires the comprehensive use of market analysis, competitive analysis, consumer analysis, channel analysis, financial analysis and other methods and tools. The process of market entry consulting is not static, but customized and innovative according to different customers, different goals and different situations. However, in practice, we can summarize some general principles and frameworks that help us to conduct market entry consultations more effectively. This article will introduce the secret of market entry consulting from the perspective of three elements and five steps, and explain it with the specific case of Champ Consulting.

three major elements

The three main elements of market entry consulting are: customer, goal and context. These three elements determine what questions we need to answer, what methods we use, and what advice we provide.

-Customers: We need to understand the customer's background, current situation, problems and needs, as well as the industry, market and competitive environment in which the customer operates. The client can be an enterprise, a department or a project team, a government agency, a social organization or an investment institution. The type, size, resources, capabilities and culture of our customers will affect our understanding and service of our customers.

-Goal: We need to be clear about what the customer wants to achieve and how important, urgent and feasible that goal is. The goal can be a concrete number, a concrete action or a concrete effect, or it can be an abstract vision, an abstract direction or an abstract value. The clarity, measurability, and attainable nature of the goal all affect our assessment and planning of the goal.

-Situations: We need to consider the external and internal situations that customers face, as well as the impact and challenges these situations have on customers. A situation can be a specific event, a specific opportunity, or a specific threat, or it can be an abstract trend, an abstract change, or an abstract uncertainty. The complexity, dynamics and unpredictability of the situation will affect our analysis and response to the situation.

five steps

The five steps of market entry consulting are: defining the problem, collecting data, analyzing the data, making recommendations and implementing the plan. These five steps are a cyclical process that requires constant feedback, correction and optimization.

-Define the problem: We need to be clear about what the core problem we want to solve is, and how important, urgent and solvable it is, based on the customer, goal and situation. The problem can be a specific question, a specific difficulty or a specific conflict, or it can be an abstract hypothesis, an abstract deviation or an abstract contradiction. The clarity, measureability, and solvable nature of the problem all affect how we define and dismantle the problem.

-Collecting data: We need to determine what kind of data we need to collect and how reliable, valid and sufficient it is based on the problem. Data can be quantitative or qualitative, subjective or objective, historical or current, or predictive or speculative. The source, method, quality and quantity of data will affect our collection and collation of data.

-Analyzing data: We need to use appropriate analytical methods and tools to draw valuable insights and conclusions based on the data. Analytical methods can be descriptive or inferential, inductive or deductive, quantitative or qualitative, or logical or innovative. The choice, application, and validation of analytical methods will affect our analysis and interpretation of the data.

-Make recommendations: Based on the analysis results, we need to give feasible suggestions and strategies that meet the customer's goals and situation. Recommendations can be concrete actions, concrete programmes or concrete effects, or abstract principles, abstract frameworks or abstract values. The feasibility, effectiveness and innovation of the proposal will affect our proposal and evaluation.

-Implementation plan: We need to formulate specific implementation plans and monitoring mechanisms based on the recommendations to ensure the implementation and effectiveness of the recommendations. The implementation plan may include specific steps, specific responsibilities, specific time, specific resources, etc., and may also include specific risks, specific responses, specific indicators, specific feedback, etc. The integrity, operability, and adjustability of the implementation plan will affect our formulation and monitoring of the plan.

Champ Consulting Case

Champu Consulting is a company specializing in market entry consulting, with many years of industry experience and rich project cases. The following is a brief overview of the market entry consulting services provided by Champ Consulting for a European clothing brand:

-Customer: The brand is a company established in20Century80The European clothing brand of the era, mainly for the middle and high-end women's market, is characterized by elegance, fashion and comfort. At present, it has a high popularity and market share in Europe and North America. In recent years, it wants to enter the Chinese market and expand its global influence.

-Goal: The brand hopes to succeed in the Chinese market, achieve revenue growth and brand enhancement, while maintaining its brand image and product quality.

-Situation: The brand is facing opportunities and challenges in the Chinese market. Opportunities include the scale, growth rate, and consumption upgrades of the Chinese market; challenges include fierce competition in the Chinese market, diverse consumer needs, and complex channels.

-Problem: The core problem that the brand needs to solve is: how to formulate an appropriate market entry strategy, including target market selection, product positioning, channel strategy, price strategy, marketing strategy, etc.

-Data: Champ Consulting has collected relevant data through a variety of methods, including internal data provided by customers, public industry data, report data from third-party organizations, and self-conducted market research data.

-Analysis: Champ Consulting uses a variety of analytical methods and tools, includingPESTAnalysis, Porter's Five Forces Analysis,SWOTanalysis,STPanalysis,4Panalysis, etc., resulting in the following insights and conclusions:

-China's clothing market is huge, but its growth is slowing down, competition is becoming increasingly fierce, and consumer demand is increasingly diversified and personalized;

-The brand has a certain reputation and reputation in the Chinese market, but it is not strong and differentiated enough. It needs to strengthen the dissemination and display of its brand image and product characteristics;

-The brand should focus on first-tier cities as the target market, middle and high-end women as the main target consumers, and elegant, fashionable and comfortable as the core product positioning;

-The brand should adopt a multi-channel strategy, combine online and offline mutual promotion, and use its own stores, e-commerce platforms, social media and other ways to contact and attract consumers;

-The brand should formulate a reasonable price strategy according to the consumption level of the Chinese market and the price strategy of its competitors, not only to ensure the sense of value and profit margin of its products, but also to consider the market acceptance and competitiveness of its products;

-The brand should use a variety of marketing tools to improve its brand awareness and reputation, enhance its product appeal and loyalty, including advertising, public relations, events, word of mouth, social media, etc.

-Suggestions: According to the analysis results, Champ Consulting gives the following suggestions and strategies:

-The brand should be“Elegant, stylish and comfortable”The brand proposition, to create a brand image combined with European culture and lifestyle, to convey a high quality and high taste of life attitude;

-The brand should take first-tier cities as a breakthrough, first open flagship stores and specialty stores in Beijing, Shanghai and other cities to showcase its complete product line and service experience, and at the same time open official flagship stores on Tmall, Jingdong and other e-commerce platforms to expand its online coverage and sales;

-The brand should take middle and high-end women as the core target consumers, and design different product series and styles according to their age, income, occupation, interest and other characteristics to meet their different occasions and needs;

-The brand should formulate a reasonable price strategy based on the actual situation of the Chinese market, not only to maintain the high-end positioning and profit space of its products, but also to consider the market competitiveness of its products and consumer psychology. Specifically, a combination of high and low can be used, I .e., maintaining a high price level on core products and a lower price level on ancillary products, in order to attract more consumers to the store or website and increase their willingness to buy and conversion rate;

-The brand should use a variety of marketing tools to increase its visibility and reputation in the Chinese market. Specifically, the following ways can be used:

-Advertising: Put brand image advertisements in important locations such as major media and subway stations in first-tier cities, highlighting their brand propositions and product characteristics;

-PR: Cooperate with some well-known fashion magazines, bloggers, celebrities, etc., and use their influence and reputation to promote brands and products;

-Activities: In some important festivals or seasons, hold some theme activities or promotional activities to attract consumers' attention and participation;

-Word of mouth: cultivate a group of loyal consumers by providing high-quality products and services, and encourage them to share their buying experience and evaluation on social media, so as to form a good word-of-mouth effect;

-Social media: Establish official accounts on social media such as Weibo, WeChat, and Douyin, and regularly publish some interesting content to interact and communicate with consumers to increase their attention and fan base.

-Implementation plan: Based on the recommendations, Champ Consulting has formulated a specific implementation plan and monitoring mechanism, including the following aspects:

-Time: The brand plans to complete the entry and layout of the Chinese market in the next three years, which is divided into three stages: the first stage, focusing on Beijing and Shanghai, opening flagship stores and specialty stores, and at the same time opening official stores on Tmall and Jingdong Flagship stores to establish brand awareness and market foundation; the second stage, focusing on Guangzhou, Shenzhen, Hangzhou and other cities, further expand the number and coverage of stores and online stores, enhance brand reputation and market share; in the third stage, focus on Chengdu, Chongqing, Xi'an and other cities to further expand the market potential of second-tier cities and consolidate brand position and market advantage.

-Responsibility: The brand will set up a dedicated Chinese market entry project team, with a senior manager sent by the headquarters as the project leader, responsible for the overall strategic planning and coordination; at the same time, set up a regional office in China, with a local manager as The regional head is responsible for specific implementation and management; in addition, it will also hire Shangpu Consulting as a strategic partner to provide professional consulting services and support.

-Resources: The brand will invest sufficient resources to support the entry and development of the Chinese market, including human resources, financial resources, logistics resources, etc. Specifically, the brand will recruit a group of employees with localized experience and capabilities in China, including sales personnel, customer service personnel, operations personnel, etc.; at the same time, the brand will reserve a certain amount of funds for investment in the Chinese market, including Store leasing, decoration, procurement, advertising, activities, etc.; in addition, the brand will also cooperate with some local logistics companies to establish an efficient logistics network, ensure timely delivery and return of products.

-Risks: The brand may face some risks and challenges in the process of entering the Chinese market, including the following aspects:

-Policy risks: the Chinese government has certain restrictions and supervision on foreign-funded enterprises in the field of clothing, which may affect the registration, operation and taxation of the brand in the Chinese market;

-Competition risk: the competition in China's clothing market is fierce, and many local or international well-known brands have occupied a large market share and consumer awareness, which may form pressure or threat to the brand;

-Consumer risk: Chinese consumers' needs and preferences for clothing may be different from European consumers, which may affect the brand's acceptance and loyalty in the Chinese market;

-Channel risk: The channels of the Chinese apparel market are complex and diverse, with many intermediate links and stakeholders, which may affect the brand's channel control and profit margin in the Chinese market.

-Response: In order to address these risks and challenges, the brand will take some of the following actions:

-Policy response: the brand will abide by the relevant laws and regulations of the Chinese government, timely understand and adapt to policy changes, maintain good communication and cooperation with government departments, and strive for policy support and convenience;

-Competitive response: The brand will fully understand and analyze the strengths and weaknesses of competitors, find out its own differentiation and competitiveness, highlight its own brand image and product characteristics, and enhance its brand awareness and reputation;

-Consumer response: The brand will deeply understand and meet the needs and preferences of Chinese consumers, adjust its product design and style according to the characteristics of the Chinese market, provide high-quality products and services, and enhance consumers' purchase intention and loyalty;

-Channel response: The brand will establish and maintain an effective channel network, select suitable channel partners, establish good cooperative relations, implement effective channel management and incentive mechanism, and ensure the smooth circulation and reasonable pricing of products.

-Indicators: In order to monitor the effect and progress of Chinese market entry, the brand will set some specific indicators and standards, including the following aspects:

-Brand indicators: The brand will measure its brand awareness, brand reputation, brand loyalty and other aspects of performance in the Chinese market through some third-party organizations or self-conducted research;

-Market indicators: The brand will measure its market share, market growth rate, market share and other aspects of the Chinese market through some public data or self-collected data;

-Sales indicators: The brand will measure its performance in terms of sales, sales volume, sales profit, etc. in the Chinese market through its own internal data or data sharing with channel partners;

-Satisfaction indicators: The brand will measure its performance in the Chinese market in terms of consumer satisfaction, consumer complaint rate, and consumer repeat purchase rate through some third-party organizations or self-conducted research.

The above is a brief introduction to the market entry consulting services provided by Champ Consulting for a European clothing brand. Through this case, we can see that market entry consultation is a systematic and complex process, which requires comprehensive consideration of multiple elements such as customers, goals and situations, and uses multiple steps such as defining problems, collecting data, analyzing data, making suggestions and implementing plans., Ultimately help customers formulate reasonable market entry strategies and achieve their goals. As a professional market entry consulting company, Shangpu Consulting has rich experience and ability to provide customized and innovative market entry consulting services to customers of different types and sizes, and help customers succeed in new markets.