New Market Strategy
For many small and medium-sized businesses entering the international market is both – an opportunity for growth and survival. Hardly any other area of activity sets up multiple barriers for businesses and organizations.
There are different ways for companies to internationalize and every company has the challenge to define an individual and most suitable strategy. There are many factors and forces that affect this strategy.
We are pleased to be your partner for all the strategic issues your step to foreign markets has to deal with.
Our Representative Services and Prices in detail
The suitable strategy determines your success
We like to think of our strategy consultation as stepping into the role of a co-creator of upcoming changes, your company’s “sparring partner” throughout the entire process of internationalization.
Our external support helps to develop a clear strategy by minimizing the undoubtedly existing risks involved in internationalization. A strategy such as this gives answers to the following key questions:
- Which short, mid-term and long-term effect for my business do I expect from entering an international market?
- Which foreign markets should I prioritize and with what reasons?
- Which form of market entry is best for the selected target market?
- Which information and what contacts do I need for market development?
- Which organizational, personnel and/or financial risks will I have to face implementing this strategy?
- Do I have an implementation timetable with “critical path”?
Each strategic approach is differentiated. Companies face different starting conditions and thus have different options. These specific framework situations are always taken into account.
What is your current starting position? With our questionnaire, which you can download here, you will receive a first rough self-assessment.
Identifying and rating potentials at an early stage
Without reliable statements concerning the market and competitive situation, your foreign market business will be too risky. In order to make your investment decision, you need all the required market data and a corresponding evaluation. Last but not least, essential facts are required to convince your shareholders or capital providers.
Our services range from focused market research to all-inclusive strategic market and competitive analyses that ensure your foreign market decisions. For this purpose, we use proven analytical tools, such as the PESTEL analysis for environmental influences, the CAGE framework for distance analysis and Benchmarking for the main competitor’s profiles. If you focus on several markets, we will develop a matrix for market attractiveness as a ranking and basis for your prioritization. Additionally, we use expert interviews with potential customers, market partners and market experts.
The result of our analysis is the core component of your market development strategy.
The closer you are the better you see
The exploration of business opportunities in target markets is a good chance to gather relevant information for market access and to get a feeling for market situation and initial customer structures. Usually there is an opportunity to meet with local multipliers, public institutions and business partners and to visit interesting sites together.
For these “fact finding tours” we prepare your travel program and scheduling. The priorities of your tour will be individually tailored to the needs of your company. On request, we arrange individual appointments with potential cooperation partners or first customers.
There is also the possibility to organize market explorations for a group of companies, usually but not obligatory belonging to the same sector.
Each fact finding tour will be personally accompanied by us. On request, we are able to engage further market or industry experts for participation.
No strategy without operational planning
Your internationalization strategy finally needs to be implemented and followed up with a detailed action plan.
With this action plan for market entry, all results of your strategy get translated into concrete action steps. This will enable you to set exact time limits, define specific marketing elements and determine individual budgets.
Together with you, we develop a separate plan for each strategy area, which precisely quantifies time goals and budgets and additionally describes potential barriers.
Another significant step is the permanent controlling of the plan´s execution. That might also lead to an adaptation of your market entry strategy.
Of course, some elements of your action plan for market entry can also be accompanied by us. For further information please visit the following link: Market Entry and Expansion.