Which market is right for you and your company?
Once you have made the decision to go global, you must determine which market or markets to pursue. Executing a strategy flawlessly in a foreign market is only possible if extensive research is performed beforehand and if strong business opportunities are identified and specifically analyzed for your brand or product offering.
Not all markets are created equal!
In performing a comprehensive market assessment, there are certain steps that must be taken.
1) Conduct primary research to determine whether the demographics, economic/political landscape, regulatory environment etc will support your brand or product.
Targeted research is the key to obtaining the hard data and intelligence that will help you make sound business decisions.
2) Study the competitive environment. Which local and international brands will you be competing against? What is your competitive advantage? What pricing strategy should you use?
Due to fierce competitive environments, sometimes the most well-traveled countries are not always the best ones to pursue.
Whether you are new to international, need help with your existing business or wish to expand to new markets, we will help you perform market assessments that will position you for success!
If you need help conducting a market assessment in 1 or more markets, please contact me at alarson@worldblazer.com to set up a free 30 minute telephone/skype consultation to discuss whether our Market Assessment/Feasibility Study service will be right for you.
