market entry Archives - Business Intelligence

Tag: market entry

Market Analysis

Devising Market Entry Strategies and Analyzing New Markets with Industry Experts

Entering a new market is a challenging and defining process across industries. Building a strong foundation, strategizing for changing market dynamics, and always staying ahead of the curve is imperative to succeed. Without comprehensive plans and data-driven decision-making, companies often struggle to overcome market entry barriers and establish a strong foothold in the new market. An effective market entry strategy helps companies build an unparalleled route-to-market, evaluate the competitive environment, and understand factors influencing the market.

A market entry strategy includes identifying profitable opportunities, planning for potential barriers to entry, and gaining a comprehensive understanding of the new market. Challenging industries such as pharmaceuticals and healthcare and industrial manufacturing are known to have high entry barriers and an extremely competitive environment. To stay a step ahead of competitors, identify and strategize for potential entry barriers, and mitigate significant risks, industry leaders develop and follow a strong market entry framework.

As competition increases and the need for innovation increases, many markets are open to innovative offerings and alternative solutions to long-lasting challenges and consumer demands. Capitalizing on this time of change, innovation, and growth can help companies propel forward, enter a new market, and develop robust strategies. Research and planning for an efficient approach require extensive knowledge regarding the field, exceptional strategizing, and a meticulous market entry framework. In this article, Infiniti’s experts discuss three crucial steps to developing a comprehensive plan and highlight our market entry solutions’ value across industries and markets.

Infiniti’s market entry advisory solutions have helped businesses across industries mitigate industry risks, identify barriers, and succeed in a new market. Request a free proposal to leverage our expertise in devising unparalleled strategies.

Market Entry

Step 1: Research and Examine

Developing an exhaustive understanding of the new market is the first step towards establishing a strong foundation and succeeding. Conducting in-depth research, acquiring data-driven insights, and compiling crucial information from reliable secondary sources is imperative to this process. Additionally, businesses must evaluate their competitors’ initiatives and strategies, understand the competitive environment, and compare their approaches and offerings with leaders. Infiniti’s market entry solutions experts have helped companies enter new markets and significantly surpass revenue expectations by providing detailed insights regarding market size, industry developments, and competitors’ strategies.

To gain a more in-depth understanding of how our market entry framework helps businesses enter a new market, request more information.

Step 2: Identify Partnerships and Modes of Entry

Devising a market entry strategy requires precision, planning, and efficient execution. Achieving precision requires successfully identifying the preferred mode of entry and planning accordingly. There are various ways to enter a new market, including licensing, franchising, direct export, joint ventures, and more. Identifying the preferred mode of entry helps businesses plan efficiently and improve execution at later stages. To ensure efficient performance, many companies choose to identify ideal strategic partnerships to support their business operations, expansion strategy, or marketing activities. With guidance from Infiniti’s experts, businesses have successfully planned and executed their plans, identified ideal partnerships in new markets, and discerned their preferred mode of entry into new markets.

Step 3: Devise a Market Entry Plan

Lastly, companies must gain and maintain a detailed understanding of the market, evaluate all the data procured in the previous steps, analyze the data, build a plan that addresses all potential risks, overcome barriers, and establish a foothold in the new market. Infiniti’s experts have followed this market entry framework, offered solutions to companies across various challenging industries globally, and helped companies become industry leaders and top contenders in their new markets.

Speak with our industry experts to learn how our market entry solutions can help your business enter a new market and champion the industry.

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)

Request for more information to know about the key benefits of leveraging Infiniti’s market entry strategies.

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

Request for white paper

Pharmaceutical Industry in China

Market Entry Barriers to the Pharmaceutical Industry in China

Although expansion into emerging markets is vital for pharma companies to ensure continued growth, both cultural and economic market entry barriers can pose problems. The pharmaceutical industry in China is one of the most lucrative markets globally. 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 Chinese pharma industry, our experts have identified some of the key market entry barriers to the pharmaceutical industry in China 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.

Pharmaceutical Industry in China: What are the market entry barriers?

pharmaceutical industry in china

Identifying untapped potential in the pharmaceutical industry in China

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 of pharma companies looking to enter the pharmaceutical industry in China 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 new companies looking to enter the pharmaceutical industry in China. Furthermore, inadequate knowledge of geographical and cultural differences that exist within the pharmaceutical industry in China 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.

Request a free brochure for comprehensive insights into our portfolio of services and learn how our tailor-made solutions can help your business build better go to market strategies.

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. The pharmaceutical industry in China 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 to the pharmaceutical industry in China.

Get in touch with us to learn more about our solutions for business:

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.

(more…)

Close
Infiti Logo

Hello there!

Contact us to know more about our cost-effective custom market research offerings to support efficient market penetration, new product launch, and devise strategies to monitor and outperform your competitors.

Cookie Policy

The Site uses cookies to record users' preferences in relation to the functionality of accessibility. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice