market entry strategy Archives - Business Intelligence

Tag: market entry strategy

trend analysis

How Market Intelligence Solutions Can Answer Three Crucial Business Questions for Companies Across Industries

What is Market Intelligence?

Rapidly growing industries, technological advancements, transforming markets, and increasing digitization have propelled data and analytics in decision-making. Market intelligence is becoming an increasingly necessary tool for companies aiming to expand, establish themselves as industry leaders, maintain a competitive edge, and overcome the fluctuating impact of changing market dynamics. It is a crucial step in developing the vision, mission, and range of a company’s business decisions, making professionals privy to information outside the organization and providing stakeholders with unparalleled insights into their market position and evolving trends, drivers, and challenges.

Market Intelligence

Market intelligence collects important data regarding various factors such as trends, growth drivers, market risks, opportunities, demand-supply shifts, and more. As companies grow and aim to expand, developing robust market entry plans, identifying profitable growth opportunities, and adapting supply chain operations become increasingly important. In this article, Infiniti’s market intelligence experts highlight how these solutions and data can answer crucial business questions that companies encounter during planning, strategizing, and execution.

Industries are growing rapidly, and keeping abreast of the various market changes can be challenging for businesses. Request a free proposal to cope with these changes and stay ahead of the curve with Infiniti’s market intelligence solutions.

How to assess market opportunity?

When expanding or growing a business, companies require in-depth insights into their market’s present and upcoming opportunities. Identifying, evaluating, and choosing ideal business growth opportunities can be challenging, and failure to do so often leads to missed opportunities, stagnation, and an eventual decline in the business. Additionally, while identifying various opportunities may be achievable with accurate data, it is equally important to filter and choose plans, growth drivers, and strategies that align with its business goals.

Market Intelligence

Infiniti’s market opportunity assessment helps companies achieve this with high accuracy, unparalleled insights, and actionable strategies. Our market intelligence experts identify, highlight, and discuss available opportunities in a market, discuss their profitability for a business, and help companies capitalize on the ideal prospects for their growth. Our market opportunity assessment helps businesses invest accurately, enhance their market position, and identify important market trends.

How to quickly enter a new market?

Entering a new market, expanding operations, overcoming barriers to entry, and establishing a strong foothold in a new space can be extremely challenging and requires an unparalleled market entry plan. Based on comprehensive research, competitive benchmarking, and in-depth analysis of the market, efficient market entry strategies can significantly boost new businesses. As industries continue to grow, it is imperative to have operational efficiency, formulated strategies to overcome entry barriers, and a comprehensive plan for all upcoming trends and drivers when entering a new market.

Market Intelligence

Infiniti’s market entry solutions help companies identify and evaluate entry barriers, competitors’ strategies, pipeline players, current and significant upcoming trends, and major risks in the new market. Our market intelligence experts also help companies establish a strong foothold, realize substantial savings, find and develop ideal partnerships, mitigate upcoming risks, and stay a step ahead of current and potential competitors in the new market.

Market intelligence solutions include a variety of essential services for growth, expansion, and efficiency. Request more information to learn what market intelligence solutions entail and how it helps businesses in your industry.

How to improve supply chain efficiency with Market Intelligence?

As businesses grow, supply chain efficiency becomes a non-negotiable essential, and companies often struggle to boost their efficacy successfully. Some of the most important tenets of supply chains to ensure efficiency are visibility, transparency, communication, and planning. However, developing and maintaining this can be challenging for growing companies, and more often than not, businesses need to forecast and prepare for upcoming changes in demand. Ensuring that stakeholders are informed, transparency is maintained, and communication is strong is imperative for any business’s growth.

Demand Planning

Infiniti’s demand planning solutions help companies identify crucial factors that improve supply chain functionality and make efficiency an achievable target for companies across industries. Additionally, our market intelligence experts provide companies with the insights required to develop comprehensive strategies, enhance communication, increase transparency, improve visibility, and ensure unity across the business levels. Demand planning also helps identify ideal partners and keep pace with the market.

A strong supply chain can serve as the differentiator between high profitability and high customer attrition. Connect with our experts to leverage our solutions and ensure unparalleled efficiency and growth for your organization.

trend 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 expansion strategy

Strategies to Enhance Market Share in Asia for Industrial and Manufacturing Firms: In Conversation with an Infiniti Research Thought Leader

Ajay Biswari, AVP – Custom Research (Market and Competitive Intelligence) at Infiniti Research has over 10 years of experience in delivering solutions for global giants in the industrial and heavy equipment sector. His core expertise includes market entry, market expansion, merger and acquisition identification, and customer needs assessment.

Industrial and manufacturing firms often face dilemma in understanding market dynamics and developing an effective market entry or market expansion strategy. Also, the rising competitive pressure, increasing need for differentiation in the market, and need to comply with the stringent regulatory environment have adversely impacted companies in the industrial and manufacturing industry. Consequently, industrial and manufacturing firms are under the pressure to expand their base of operations to developed markets. This necessitates stakeholders to develop an effective market expansion strategy, understand the competitor landscape, and gain a comprehensive view of the current market scenario.

Our market expansion strategy engagement can help industrial and manufacturing firms to gain in-depth market and consumer insights, collaborate with local businesses, garner government support, and devise an efficient market expansion strategy. Request a FREE proposal!

Do industrial and manufacturing companies need to expand their business to new markets?

Amal: Absolutely! Today, several market dynamics affect the business operations of companies operating in the industrial and manufacturing industry. The rising market uncertainties such as increasing competitive pressure, uncertain political scenarios, and rising operational costs are some of the major factors impacting the business operations of companies in the industrial and manufacturing sector. Let me explain in detail impacts of these challenges on companies in the manufacturing industry. The growing competitive pressure often leads to price wars between companies and negatively impacts a manufacturing company’s bottom line. Furthermore, increasing political instability in the recent times including events such as BREXIT and NASTA are even making it more difficult for companies in the industrial and manufacturing industry to sustain a leading edge in the market. To remain ahead in the market and expand market share, it is vital for industrial and manufacturing firms to expand their base of operations to new markets.

market dynamics

Can you shed some light on the strategies that must be adopted by manufacturing firms to survive in today’s competitive market scenario?

Amal: Let me list out three major strategies, which according to me help companies stay ahead of the game. Some companies use technologies to overcome challenges. For instance, recently a major tool manufacturing company achieved 24% productivity improvement and 10% workforce efficiency improvement by investing in new technologies such as IoT and AI.

Also, companies are investing in new product innovations. Introduction of new products in the market can help companies to stay competitive. But, I would highly recommend manufacturing companies to employ a market expansion strategy, as this is sure to provide an above-average growth rate and can save millions of dollars in savings.

With over 15 years of expertise in providing custom market intelligence solution, we have helped various global companies to devise efficient market expansion strategy. CONTACT US to know how our solutions can help your company.

But, why do you think entering the Asian market can be an ideal growth strategy for manufacturing firms?

Amal: Well, recent studies show that over forty per cent of global economic activity is now occurring in Asia, and world growth is expected to continue being led by Asia over the next decade. Also, India and China are two of the major economies which are growing at the fastest rate globally and provide vast opportunities for manufacturing companies. And even these countries heavily depend on exports as one of the revenue streams. So, new manufacturing companies can easily set up manufacturing bases relatively with a low cost of labor and raw materials. So, I think choosing the Asian market can be an ideal growth strategy for companies in the manufacturing industry.

Can you provide more insights on why Asia is a promising market for industrial and manufacturing companies?

Amal: Definitely! To start off with, Asia offers an attractive manufacturing environment that is favourable for manufacturing companies. Also, if we look at the share of global manufacturing output, it has almost doubled in the last decade. Moreover, the low operating cost and diverse demography are some of the other attractive factors in the Asian Market.

I would also like to add another significant geographical advantage within the Asian market in terms of access to market. With companies in the Asian manufacturing industry already competing with each other to be on top of the manufacturing pyramid, this market is trying to garner interest among global firms by offering smooth entry into their market. Also, considering the production cost, Asia offers lower operational costs compared to other developed countries.

What are the major market expansion approaches that some of the top manufacturing companies in the world adopt to stay ahead of the game?

In my view, most manufacturing companies look at setting their individual manufacturing bases or enhance their sales through various approaches. For setting their own manufacturing bases, companies generally leverage greenfield and brownfield expansion approaches. Let me explain these approaches in detail. Generally, greenfield expansion approaches involve huge investment in terms of resources, time, and capability. Although this approach provides complete control over the manufacturing and supply chain processes, this involves huge risks and takes a longer period for results to be shown. However, the brownfield expansion approach provides a kick-start immediately. Also, the brownfield expansion approach requires relatively lower capital investment compared to greenfield approach.

In the case of sales expansion strategies, manufacturing companies mostly look at own sales network or channel partners. Own sales network approach is mostly similar to the greenfield approach, which requires huge capital investment. However, channel partner approach helps companies gain in-depth knowledge about the market through channel partners who are already present in the market.

Request for more info to gain detailed insights into our services portfolio and to learn other benefits of leveraging our market intelligence solutions.

Market Segmentation

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

LONDON: Infiniti, a leading market intelligence solution provider, has announced the release of their new storyboard on market entry strategies and on how it has supported organizations in strategically entering a new market or expanding in an existing market.

With the thriving businesses all over, expanding the business or entering a new market has become a must to afloat in the business. But, you must be wondering why many companies fail to succeed overseas or while trying to expand their business? Even, despite Aussies’ deep love for coffee, Starbucks, incredibly popular in the US failed to crack the Australian market. Why is it that so? The truth is, market entries are challenging! This compels companies to leverage market entry strategies to avoid pitfalls and distinguish suitable pathways for navigating a new or foreign market.

Infiniti’s market entry strategies help companies assess the opportunities and risks of a new market and ensure a smooth entry. Given our experience in formulating go-to-market strategies for global organizations, we’ve collated some of our recent success stories on market entry strategies and have also highlighted ways in which our market entry strategies solutions have helped businesses become market leaders in new geographies.

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Uncover the secret formula to develop a successful market entry strategy!

#1: 4 secrets to creating a winning market entry strategy: Entering into a foreign market, particularly one with strict rules and regulations can be a very daunting task. Often, business owners have the ambition to go international, but they’re just not quite sure where to start! Are you facing the same challenge? If yes, figure out how to beat the odds in the international market entry with competent market entry strategies.

Beating the Odds in Market Entry with Competent Market Entry Strategies

#2: Market entry strategies facilitate profitable growth in medical devices company: With the recent technological advancements in the market, the businesses are facing difficulties to propel their business forward. Hence, companies are looking to formulate a go-to-market strategy to scale their business prospects across emerging markets. A medical devices manufacturer was going through the same hurdles with the recent advancements in the field of medical technologies. Our market entry strategies helped the company avoid cognitive biases that undermined the market entry decisions and helped expand their reach by entering key target markets.

Medical Devices Market Entry Assessment: Avoiding Cognitive Biases that Undermine Market Entry Decisions

#3: Top challenges you’ll need to overcome to succeed in international business: Foreign trade requires you to operate outside your comfort zone, but that’s where the magic truly happens in terms of flourishing, shining and realizing your business goals. Before you dive into a foreign market, you need to do some market entry research and learn about its economy, trends, consumers, policies and trade agreements to help yourself plan better. In this blog, our experts have listed out the top challenges and suggested a few measures to combat them.

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

#4: Identifying new growth opportunities in the market: If you’re not actively seeking out new customers or channels to grow, you’ll almost certainly miss new opportunities right in front of you. A fast-food company also went through the same dilemma. This not only affected their profit margin but provided scope for other players in the industry to expand. Hence, the client was looking to expand their business to capture a higher market share in the new segment in a more cost-efficient manner. Our market entry strategies helped them smoothly expand their business and subsequently increased sales, business stability, and brand recognition.

Market Entry Strategy: Identifying New Opportunities in the Market for a Fast Food Restaurant Client

#5: Helping develop low-cost market entry strategies to boost presence in international markets: Planning market entry strategies can be daunting. Market entry strategies necessitates a deep understanding of the market dynamics, including barriers to entry, customers, trade environment, and so on. Without these insights, navigating the business environment can be extremely challenging and can set the business up for failure. Facing a similar challenge, a leading automaker was in search of a trusted market research firm that could conduct a comprehensive market entry research study. Partnering with Infiniti Research helped the client devise an effective, low-cost market entry strategies to boost their international presence.

Business Market Entry Strategy for an Automotive Industry Player

Mastering market entry challenges are easier than you think with Infiniti’s customized market entry strategies solutions. Want to know how? Request for a FREE Proposal to leverage our market entry strategies solution.

 

#6: Personal care products manufacturer secured a space in the Russian market: This success story explains how a personal care products manufacturer was able to secure a space in the Russian market and identify the untapped opportunities based on the market entry strategies research conducted by Infiniti Research.

Market Entry Strategy Framework for a Personal Care Products Manufacturer Helps Break into the Russian Market

#7: Elevating sales and productivity for a chemical firm: In a mere span of eight weeks, Infiniti’s market entry experts were able to offer insights on the implications of entering new market segments in the chemical industry space. This market entry strategies engagement helped the client understand the factors hampering the growth of the market and make informed business decisions to enhance sales and production.

Leveraging Effective Market Assessment Solutions to Devise Market Entry Strategies for a Chemical Industry Client

#8: Driving higher sales per product for an orthodontic appliance manufacturer: While trying to expand your business, understanding if you are on the right path along the way, is just as important! Our market entry strategies solutions have made it possible for one of the leading orthodontic appliances manufacturers in assessing the sales potential of their newly introduced product. With our market entry strategies, the client was in a better position to market their products and drastically reduce time to market to drive higher sales per product.

Infiniti’s Market Entry Strategy Helps a Leading Orthodontic Appliances Manufacturer to Enter International Markets

#9: 5 step process for devising an effective market entry strategy: Developing and implementing the correct market-entry strategies can often make the difference between success and failure. As majority of organizations lack the necessary resources and skills required to accurately analyze and assess the growth potential and market landscape, our experts have proffered the five steps in devising successful market entry strategies.

Devise Successful Market Entry Strategies in Five Steps 

#10: How an IT solutions provider maximized ROI with Infiniti’s market entry strategies: The global IT services sector is highly fragmented due to the presence of several players. This is inciting IT solutions providers to leverage market entry strategies engagement to incorporate innovative technologies into their businesses endlessly. If businesses are not up-to-date with the latest technologies, it is highly likely that their operations will become outdated, putting their survival in the market at stake. Hence, by leveraging Infiniti’s market entry srategies, an IT firm determined long-term corporate plans and formulated strategies to maximize the ROI.

Market Entry Strategy Engagement: How an IT Solutions Provider Maximized ROI

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

Four Barriers You Need to Overcome Before Planning Your International Market Entry Strategies

The rising rate of globalization is prompting brands across the world to ‘think global’. In the long term, every modern business wants to expand their reach to international markets, which would eventually spike their profit and growth graphs. The lucrative scope of doing business in foreign markets are attracting many ventures, big and small, to explore these opportunities. However, while formulating international market entry strategies, chances are that a company might overlook certain barriers that might prove to be fatal for the business. Here are some of the key barriers that companies must watch out for before formulating their international market entry strategies:Contact US

Monopoly in the market

The existence of a monopoly in the market often poses as a tough barrier for companies planning to build international market entry strategies for their business. A monopolistic market situation is when one company or a group of companies hold an entire chunk of the market share, making them the primary providers of products/ services in that market. Monopolies often block the entry of other substitutes or competition in the market by using patents and licenses, controlling distribution routes, resources or suppliers, or by using pricing strategies. If companies entering a new market cannot access an efficient or cost-effective distribution system because incumbent companies have a greater control over the distribution networks, the chances of their goods or services to be successful is highly unlikely.

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