Tag: foreign market entry

Market entry strategies

Infiniti’s Market Entry Strategies Facilitate Profitable Growth for a Healthcare Company

Market Entry Strategies for a Healthcare Company

With continually changing healthcare market environment and policies, healthcare companies are facing challenges in establishing their market presence in a new market. Also, recent studies show that more than half of the healthcare companies have failed while trying to enter a new market. With this, it is becoming imperative for healthcare companies to formulate efficient market entry strategies to make their expansion smoother. To achieve this, companies are partnering with firms like Infiniti Research to leverage their expertise in formulating market entry strategies. Infiniti’s market entry strategies have helped various global giants to successfully establish their market presence in new geographies and achieve maximum market share.

Are you planning to expand your business operations to a new geography? If yes, you must be interested to know whether your products or services will fit in the new market. Request a FREE proposal and learn the benefits of leveraging our market entry strategies.

Business Challenge

The client is a healthcare company based out of Central United Kingdom. As the UK healthcare market was highly saturated, the client decided to expand their business operations across Germany and Belgium. Before entering the new market, the client wanted to analyze the opportunities and challenges in these regions. Also, they wanted to understand the size of the market and growth potentials, identify the right business partners to support their operations, and select the right entry mode to enter the new market. Furthermore, with Infiniti’s market entry strategies, they wanted to evaluate the market entry barriers and take appropriate measures to establish a foothold in the new market.

Solutions Offered

To help the client formulate a market entry strategy, the experts at Infiniti Research followed a three-phased approach. The experts conducted a thorough assessment of the market landscape to understand the market size and opportunities in Ireland and Germany. The experts also analyzed factors such as what’s driving growth in the market, competitors’ market share, and the regulatory environment.

Infiniti’s market entry strategies helped the client to estimate the market potential. Also, the experts helped the client to identify the right business partners to support their operations in the new region. Furthermore, Infiniti’s market entry strategies helped the client to understand the market entry modes opted by other major players in the healthcare industry. With this, the client was able to identify suitable pathways for entering the new market. Consequently, the client successfully established their foothold in the new market. Also, within one year of entering the new market, the client was able to exceed their revenue expectation and achieve millions of dollars in savings.

CONTACT US to know how our experts can help you understand the new market landscape and devise efficient market entry strategies.

Steps to Creating Winning Market Entry Strategies

How to do market segmentation analysis (1)

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Want to know the potential barriers to foreign market entry and strategies to overcome them? Download the FREE resource here.

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Market entry barriers

Market Entry Barriers to the Chinese Pharma Industry

Although expansion into emerging markets is vital for pharma companies to ensure continued growth, both cultural and economic market entry barriers can pose problems. China is one of the most lucrative markets for pharma companies across the globe. China’s growing middle class and an ageing population mean new opportunities for companies to widen their portfolio in this area. However, entrants into the Chinese market encounter several challenges while expanding their operations effectively in the country. For Western companies seeking a foothold in the pharma industry in China, our experts have identified some of the key market entry barriers in the Chinese pharma market and ways to overcome them.

Want to break free from market entry barriers and establish yourself in a new market? Request a free proposal to know how our solutions can help your business.

Chinese market entry barriers

market entry barriersIdentifying untapped market potential

The scale of the country could prove to be one of the key market entry barriers for pharma companies planning to enter the Chinese market. So far, the main focus for pharma companies has been on Tier 1 and Tier 2 cities, those with a population of over 2 million. Physicians in large hospitals in these cities have been targeted by foreign companies as a part of their market entry strategy to venture into these markets. Pharma companies must also identify ways to leverage the potential of China’s rapidly growing Tier 3 and Tier 4 cities. Mergers or joint ventures with established Chinese firms who have built up knowledge and a profile in these areas is one of the best ways to pursue this.

Overlapping demographics

China’s overlapping demographics with each of them requiring a tailored approach poses a severe challenge for pharma companies. Furthermore, inadequate knowledge of geographical and cultural differences in Chinese markets could also prove to be significant market entry barriers for companies in the pharma sector. Even two cities such as Shenzhen and Guangzhou which are in close proximity, speak different languages and represent very different social clusters. Marketing in these two cities or even the case of Tier 1 and Tier 4 cities in the country would necessarily require two separate approaches.

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Planned price restrictions

The Chinese government has recently indicated that they intend to review their current drug pricing scheme, which could increase the market entry barriers for foreign companies. They are planning to dramatically increase the number of drugs covered under the essential drugs list. China’s pharma industry is heavily weighted towards producing generics which are better placed to compete under such criteria, posing major market entry barriers for foreign companies wishing to profit from more expensive branded drugs. Foreign pharma companies can increase their profit margins by targeting consumers directly.

Supply chain

Once the drugs have made its way through the registration process, it will need to be distributed, and the fragmentation of the supply chain makes this a much more complicated process in China. Often, there are several layers of distributors to get through before reaching the customer in Chinese markets, which raises the distribution costs and also diminishes supply chain visibility, making it difficult to monitor the product once it has left the factory, contributing to further market entry barriers.

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Market Entry Strategies

Why do Market Entry Strategies Need to be Prioritized in 2019? A Round-Up of Popular Articles on Market Entry Strategies

LONDON: Infiniti Research, a leading market intelligence solutions provider, has announced the release of their FREE downloadable resources’ series on the benefits of market entry strategies. These supplements provide comprehensive insights into how market entry strategies help organizations avoid pitfalls and identify suitable pathways for navigating a new or foreign market.

Most business owners aspire to expand their business by entering into new markets. While entry to a new market may seem to be a great business strategy, most businesses fail while making a new market entry. Have you ever wondered why? The truth is, market entry strategies are extremely challenging.

Entry into an unfamiliar market can expose an organization to unexpected risks. This could further hamper the company’s growth and damage their global reputation. Hence, while planning to enter a new market, you need to take into consideration the demographics, location, and needs of the new market. It becomes imperative for organizations to leverage market entry strategies. Infiniti’s market entry strategies have helped various firms build robust route-to-market strategies.

In this competitive world, conventional experience and understanding can no longer guide future strategies. Request for a FREE brochure to learn more about our market entry strategies.

Find out how some of our clients have successfully secured a space in the new market with our market entry strategy engagement.

Weekly Round-up: A Storyboard on the Benefits of Market Entry Strategies

 

#1: 4 common market entry mistakes and how to avoid them: Global business growth can be both daunting and rewarding.  Even some of the most established companies tend to fail in their ventures to operate in an international market. The lack of industry knowledge and inefficiency in the market research efforts undertaken by the company could be some of the reasons behind the failure of businesses. In this FREE downloadable resource, our market entry strategies experts discuss the key pitfalls that hinder the growth of companies in a foreign market with some examples of lessons learnt from famous international market entry failures.

Download our FREE supplement to learn more about the most common mistakes every business makes while entering into a new market and find out how  your company can avoid them.

60% of companies fail to succeed in new markets. Is your business preparing to enter a new market? Request a FREE proposal to know how our market entry strategies can help you achieve your business goals.

#2: Potential barriers to foreign market entry: Entering a foreign market could be a highly challenging task if you have not formulated effective strategies to overcome the potential barriers. Obtaining desired business goals requires support from people that understand the local market and can deliver results within a specific period and at an affordable cost. Hence, companies are partnering with market research companies like Infiniti Research. Our experts have identified the potential barriers to market entry and strategies to overcome them. Download our latest FREE supplement to learn more.

Consider these challenges before devising international market entry strategies:

Top 3 Challenges Companies Must Watch Out for Before Devising International Market Entry Strategies

#3: Five steps to build a winning market entry strategy: In today’s competitive world, conventional experience and understanding can no longer help businesses succeed. It is vital for any business to leverage market entry strategies and be precise about what they want to achieve in new markets, learn more about the market they are entering into, have a detailed competitive analysis, choose the right market entry strategies mode, and identify financial requirements to begin their new venture. This FREE supplement from Infiniti Research explains the five critical steps that organizations must follow to build a winning market entry strategy.

CONTACT US to learn more about our market entry strategies solutions.

IR23

Beating the Odds in Market Entry with Competent Market Entry Strategies

New and emerging markets open up numerous opportunities and have limitless potential for growth. However, when to take a closer look at the annals of business history, it shows that for every successful market entry, about four fail. Interestingly, it is not just inexperienced startups that face the heat from new markets while implementing their market entry strategies, several sophisticated corporations also face the same fate. Industrial strategists at Infiniti Research agree that successful market entry strategies depend largely on factors including timing, scale relative to the competition, and the ability to leverage complementary assets. Moreover, it is vital to undertake detailed analysis and market research before entering into a foreign market.

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