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Market Entry Research
Establishing a presence in new territories requires substantial investment, whilst the political, economic, cultural, legislative and technological barriers can also act as a major disincentive to enter new markets.
While the decision to enter a new market is an extremely difficult one to make, it is one that could result in significant long-term rewards for your company if handled correctly. We are experts at assisting Western companies to explore new opportunities in developing markets such as China and Russia, and have helped many companies to formulate and execute their market entry strategies.
How Market Research Can Help
Our market entry studies provide practical and actionable findings to our clients by seeking to answer the questions most frequently asked by new market entrants:
- What is the size of the target market? How do I know the target market is big enough for my product offering to be a success there?
- How can I ensure that the target market understands my offering?
- How should I market and promote my offering in a new territory?
- Will my products or services need to be adjusted to meet the needs of the target market, and if so how?
- How can I price my products and services in the new target market?
- What are the routes to market? How should I seek to access the marketplace?
- If there is an opportunity, what type of business would be best placed to make the most of this opportunity? For example, should we begin by setting up a representative office or subsidiary? What about a joint venture? Or should we begin by tapping into a local distribution network?
Finally, we appreciate that studying the market is only the start of the process. With this in mind, we offer also market entry consultancy in which we guide you through the bureaucracy and legislation, as well as setting up and accompanying you to appointments with prospects, potential suppliers and other stakeholders.
To learn more about how Trans MR Consulting can help you with Market Entry Research, contact us : info@transMR.com
What is a Mystery Shopper?
A Mystery Shopper (secret shopper) is an important job – and it's part-time, paid, and flexible to your schedule. Many of your favourite stores, restaurants and theatres depend on our mystery shoppers to understand more about what is happening in their stores. The key is never to criticise but simply to provide a factual online report that will be of benefit to the business you are assessing.