Market Entry Consulting (Market Entry Consulting) is a professional service that provides companies with feasibility analysis, strategic planning and implementation recommendations for doing business in a new market, industry or region. Market entry consulting can help customers grasp market opportunities, avoid market risks, improve market competitiveness, and achieve business growth and value enhancement.

Market entry consulting is a complex and professional job, which requires consulting companies with rich industry knowledge, market insight, data analysis, strategic thinking and problem solving ability. In order to ensure the quality and effectiveness of market access consulting services, consulting firms need to follow some basic principles and standards. From the perspective of consulting firms, this paper summarizes the seven principles of market entry consulting, namely, customer-oriented, data-driven, logical clarity, innovative thinking, feasible solutions, risk control and value creation. These principles are the industry standards for consulting firms in providing market entry consulting services and the evaluation criteria for clients in selecting consulting firms.

1. customer orientation

Customer-oriented refers to the customer's needs and goals as the starting point and destination, to provide customers with tailor-made and highly relevant consulting services. Customer orientation is the core concept of market entry consulting services and the basis for building long-term relationships.

In order to achieve customer orientation, consulting firms need to do the following:

Fully understand the customer's background, current situation, problems and expectations, clarify the goal and scope of the project, and reach an agreement with the customer.

Maintain good communication and collaboration with customers, timely feedback on project progress and results, actively listen to customer opinions and suggestions, and adjust the plan in time.

Focus on customer interests, avoid conflicts of interest, protect customer information and respect customer culture.

Provide customers with added value beyond expectations, such as industry trends, competitive dynamics, policy changes, etc.

For example, Champ Consulting has provided market entry consulting services to a well-known domestic appliance company to help it enter the Indian market. In the early stage of the project, through in-depth interviews and questionnaires, we learned about the customer's development history, product characteristics, market positioning, competitive advantages, and motivation and goals for entering the Indian market. In the middle of the project, Shangpu Consulting conducted a comprehensive assessment of the scale, growth, structure, trends, consumer behavior, competitive landscape, legal environment, etc. of the Indian market through a large amount of first-hand and second-hand data collection and analysis, and based on the client's Resources and capabilities, propose appropriate entry models and strategies for them. In the later stage of the project, Shangpu Consulting conducted many communications and discussions with customers, optimized and improved the plan, and provided customers with detailed implementation plans and risk response measures. In the end, the customer successfully entered the Indian market and achieved good results in a short period of time.

2. data driven

Data-driven refers to providing objective, accurate and credible consulting services to customers based on data, using data analysis as a tool and data results as a support. Data-driven is an important means for the market to enter consulting services, and it is also the key to improve the quality and efficiency of consulting.

In order to be data-driven, consulting firms need:

Determine reasonable research methods and analysis frameworks, and design effective data collection programs, including data sources, data types, and data ranges.

Use professional data collection techniques and tools, such as interviews, questionnaires, observations, experiments, web crawlers, etc., to ensure the authenticity, integrity and timeliness of the data.

Use scientific data analysis methods and models, such as descriptive statistics, inferential statistics, regression analysis, cluster analysis, factor analysis, etc., to ensure the validity, relevance and representativeness of the data.

Presents clear data results and conclusions, such as charts, reports, presentations, etc., to ensure data readability, visualization, and comprehensibility.

For example, Shangpu Consulting has provided market entry consulting services to an internationally renowned FMCI company to help it enter the Chinese market. In the early stages of the project, Champu Consulting identified six dimensions of macro-environmental analysis through PESTEL analysis: political, economic, social, technical, environmental and legal, and designed corresponding indicators and questions according to each dimension. In the middle of the project, Shangpu Consulting collected a large number of first-hand and second-hand data through various channels, including government public reports, industry association information, professional database information, competitors' public information, consumer interview records, etc., and used SPSS software to conduct multiple regression analysis to find out the main factors affecting the development of China's fast-moving consumer goods market. In the later stage of the project, Shangpu Consulting produced various charts through Excel, such as bar charts, pie charts, scatter charts, etc., and produced presentations through PowerPoint to show customers the general situation, opportunities and challenges of China's fast-food market, and gave corresponding suggestions.

Clear 3. logic

Logical clarity refers to the guidance of logical thinking, supported by logical structure and expressed by logical language, providing customers with well-organized, well-documented and rigorous reasoning consulting services. Clear logic is the basic requirement for the market to enter consulting services, and it is also the key to improve the persuasiveness and influence of consulting.

In order to achieve logical clarity, consulting firms need to do the following:

Establish clear problem definitions and hypothesis validation to avoid vague problems, arbitrary assumptions and hasty conclusions.

Build a reasonable analysis framework and mind map to avoid analysis confusion, thinking jump, loose structure.

Use concise language and symbols to avoid lengthy language, complex symbols and vague expressions.

Follow the commonly used logical rules and methods, such as induction, deduction, analogy, comparison, etc., to avoid logical errors, fallacies and paradoxes.

For example, Champ Consulting provided market entry consulting services to a well-known European auto company to help it enter the U.S. market. In the early stage of the project, through the method of problem tree, the core problem of the customer "how to enter the US market" is divided into three sub-problems: whether there is enough demand in the US market? Is there enough competitive advantage in the US market? Is there enough profit space in the US market? The corresponding hypothesis and verification method are formulated for each sub-problem. In the middle of the project, Champ Consulting further refined each sub-problem into a number of mutually exclusive and complete elements through the MECE principle, which were analyzed and verified in a logical order. Later in the project, Champ Consulting organized the analysis results and recommendations in a top-down structure through the pyramid principle and supported by bottom-up logical reasoning. In the end, the customer was given a clear, robust and viable market entry solution.

4. innovative thinking

Innovative thinking refers to providing customers with unique, novel and valuable consulting services with innovative spirit as the driving force, innovative methods as the tool, and innovative results as the goal. Innovative thinking is the core competitiveness of market entry consulting services, and it is also the key to improve the value and influence of consulting.

In order to achieve innovative thinking, consulting companies need to do the following:

Dare to challenge the status quo and common sense, dare to put forward unusual and controversial views and suggestions.

Be good at discovering and seizing market opportunities and potentials, and be good at putting forward forward forward-looking and strategic views and suggestions.

Be good at using diversified and cross-border knowledge and experience, and be good at putting forward creative and differentiated views and suggestions.

Be good at using a systematic and integrated way of thinking, and be good at putting forward views and suggestions with integrity and coordination.

For example, Shangpu Consulting has provided market entry consulting services for a well-known domestic e-commerce company to help it enter the Southeast Asian market. In the early stage of the project, through the blue ocean strategy method, the traditional market division and competition analysis were challenged, and the blue ocean space and value innovation points of the Southeast Asian market were found. In the middle of the project, through the method of SWOT analysis, the advantages, disadvantages, opportunities and threats of customers are found, and the strategies of using advantages, making up for disadvantages, seizing opportunities and avoiding threats are put forward. At the later stage of the project, through the balanced scorecard method, the customer's strategic objectives are broken down into four dimensions: finance, customer, internal process and learning and growth, and the corresponding indicators and measures are developed for each dimension. In the end, the customer was given an innovative, forward-looking and complete market entry solution.

5. scheme is feasible

The feasibility of the plan refers to the provision of operational, executable and evaluable consulting services for customers based on the resources and capabilities of customers, based on the actual market conditions, and considering the implementation effect of the plan. The feasibility of the scheme is the ultimate goal of the market to enter the consulting service, and it is also the key to improve the satisfaction and loyalty of the consulting service.

In order to make the scheme feasible, the consulting company needs to do the following:

Fully consider the customer's resources and capabilities, such as capital, manpower, technology, brand, etc., and avoid proposing solutions that exceed the customer's tolerance or do not meet the customer's characteristics.

Fully consider the actual situation of the market, such as demand, competition, regulations, risks, etc., and avoid proposing plans that are inconsistent or unsuitable with the current market situation or future trends.

Fully consider the implementation effect of the program, such as revenue, cost, profit, market share, etc., and avoid proposing programs that fail to achieve the expected goals or fail to measure the results.

Provide customers with detailed implementation plans and evaluation methods, such as schedules, responsibility allocation, budget arrangements, monitoring indicators, etc., to help customers smoothly implement and evaluate the plan.

For example, Champ Consulting has provided market entry consulting services to a well-known American education company to help it enter the Chinese market. In the early stage of the project, Shangpu Consulting evaluated the core competitiveness and development potential of the client in the Chinese market through the method of resource capability matrix, and selected the appropriate entry mode for the client according to the resource and ability level. In the middle of the project, through the method of Porter's five forces model, the competitive situation and influencing factors of China's education market are analyzed, and a reasonable pricing strategy and marketing strategy are formulated according to the actual situation of the market. In the later stage of the project, the revenue, cost and profit of the customer in the Chinese market are predicted by the method of financial model, and a detailed implementation plan and evaluation method are formulated according to the implementation effect of the scheme. In the end, the customer got a feasible, reasonable and effective market entry plan.

6. risk control

Risk control refers to providing customers with safe, robust and sustainable consulting services based on risk awareness, risk management as a means, and risk reduction as the goal. Risk control is a necessary condition for the market to enter consulting services, and it is also the key to improve the credibility and reputation of consulting.

In order to achieve risk control, the consulting company needs to do the following:

Fully identify and assess the various risks that may be faced in the process of market entry, such as market risk, competitive risk, legal risk, technical risk, cultural risk, etc., and classify and rank the risks according to their size and likelihood.

Fully formulate and implement risk response and preventive measures, such as market adjustment, competition countermeasures, legal compliance, technical guarantee, cultural adaptation, etc., and select and optimize according to the nature and degree of risks.

Fully monitor and evaluate the occurrence and impact of risks, such as market changes, competitive reactions, legal changes, technical failures, cultural conflicts, etc., and adjust and improve according to the actual and expected risks.

Provide customers with detailed risk reports and recommendations, such as risk identification forms, risk assessment forms, risk response forms, risk monitoring forms, etc., to help customers understand and control risks.

For example, Champ Consulting has provided market entry consulting services to a well-known domestic medical company to help it enter the African market. In the early stages of the project, Champ Consulting identified, through sensitivity analysis, the main risks that clients may face in the process of entering the African market, such as political instability, outbreak of epidemics, exchange rate fluctuations, etc., and quantified and ranked these risks. In the middle of the project, through the decision tree method, the response measures for different risk scenarios, such as political alliance, vaccine supply, exchange rate protection, etc., were formulated, and these measures were evaluated and selected. In the later stage of the project, the probability and impact of various risks were monitored by Monte Carlo simulation, and the scheme was dynamically adjusted and optimized. Ultimately, the customer is given a safe, robust and sustainable market entry solution.

7. value creation

Value creation refers to providing beneficial, useful and meaningful consulting services to customers with customer value as the core, market value as the guide, and social value as the supplement. Value creation is the highest pursuit of market access to consulting services, and it is also the key to improving consulting influence and social responsibility.

In order to achieve value creation, consulting firms need to do the following:

Fully understand and meet customer value, such as increasing revenue, reducing costs, increasing profits, expanding market share, etc., and rank and prioritize according to the importance and urgency of customer value.

Fully consider and promote market value, such as meeting demand, solving problems, improving efficiency, improving quality, etc., and evaluate and improve according to the scale and continuity of market value.

Pay full attention to and contribute to social values, such as protecting the environment, promoting equity, improving welfare, improving life, etc., and measure and spread them according to the impact and significance of social values.

For example, Champu Consulting has provided market entry consulting services to an internationally renowned environmental protection company to help it enter the Chinese market. In the early stage of the project, through the method of value chain analysis, Shangpu Consulting analyzed the value creation process of the customer in the Chinese market, such as raw material procurement, product production, product sales, product recovery, etc., and formulated the corresponding objectives and strategies according to the importance and urgency of customer value. In the middle of the project, through the method of competitive advantage analysis, the value of the customer in the Chinese market is analyzed, such as cost leadership, differentiation, focus, etc., and according to the scale and continuity of market value, the corresponding positioning and action are formulated. In the later stage of the project, through the method of stakeholder analysis, the scope of value influence of customers in the Chinese market is analyzed, such as government, society, competitors, partners, etc., and according to the influence and significance of social value, the corresponding communication and cooperation are formulated. In the end, the customer gets a beneficial, useful, meaningful go-to-market solution.

Summary

Market entry consulting is a professional consulting service that requires consulting firms to follow some basic principles and standards. From the perspective of consulting firms, this paper summarizes the seven principles of market entry consulting, namely, customer-oriented, data-driven, logical clarity, innovative thinking, feasible solutions, risk control and value creation. These principles are the industry standards for consulting firms in providing market entry consulting services and the evaluation criteria for clients in selecting consulting firms. This paper also shows the application and effect of these principles in practice with some customer cases of Shangpu Consulting Group. It is hoped that this article will be helpful and enlightening to readers who are interested in or need to use market entry consulting services.