Today, most organizations have become opportunists. After years of gaining a strong foothold in the market, they are planning to increase their brand awareness and target niche customer segments. With the increasing competition for expansion and growth, large organizations are preferring solutions like market entry strategy to venture into new geographies and launch new products and services. Organizations are also turning market entry into the cornerstone of their potential growth strategies. Organizations in the medical landscape can leverage the use of specific market entry opportunity to understand the overall market landscape and devise an ideal strategy fit in terms of acquisitions and joint venture. Consequently, market entry strategy helps the client identify the competitors, their offerings, and tap potential market opportunities. In the medical landscape, devising market entry strategy helps boost sales.
Infiniti’s market entry strategy assists the client to gain extensive knowledge of the local market, cultural, and regulatory environment. The client can further gain relevant and up-to-date information on the market; thereby, helping in making informed business decisions. Moreover, enabling market entry strategy across the appropriate market can help the client reduce the costs and improve operational performance.
The Business Challenge
As the healthcare market is reaching its saturation with numerous competitors offering differentiated sets of products, a leading IVF producer in the medical landscape was facing certain predicaments in terms of increasing their market shares. The client also wanted to breach different markets and enhance their product offerings in the market. Also, the client wanted to formulate a market entry strategy to potentially grow, expand, and relocate their business to new markets. Before entering a new market, the client wanted to gauge information on the potential opportunities, driven by foreign market conditions, and customer experiences in the market.
A leading IVF producer also wanted to devise a robust business plan to convince potential investors. The client further wanted to plan a unique combination of business strategy expertise, including strategic market and business development.
With an eye on foreign markets, the client approached Infiniti research to assess the financial capabilities of entering business opportunities abroad. Infiniti’s market entry strategy experts with extensive experience and expertise in facilitating market entry decisions carried out a blended approach comprising of interviews and discussions with leading stakeholders in the IVF market space. The market expert advisory experts at Infiniti also collated information from various proprietary resources to deliver a single window solution to the client.
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Market Entry Strategy Solution Benefits
- Gain actionable insights into the market and devise products and services
- Understand different potential market segments and cost bases applicable to different market segments
- Understand the challenges and introduce innovations to foster greater efficiency and enable growth
- Understand the intensity of the competition and the determining factors for successful market entry
- Identify the ideal mode of entry that provides the best strategic fit
Benefits of Our Integrated Approach
In a span of eight weeks, the market entry strategy solution helped the client facilitate the planning, development, and execution of an effective market entry strategy. The market entry strategy also helped the client enter different markets, reduce costs in terms of managerial time and investment outlays, minimize the risk of failure, and gain higher returns on invested capital.[spacer height=”20px”]