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Market Research

01

  • Target Market Size: Determine the potential size of the market you are planning to enter.

  • Customer Needs and Preferences: Understand what the customers in the target market need and prefer.

  • Market Trends: Identify and analyze current and future trends in the market. 

Competitive Analysis

02

  • Identify Key Competitors: List out the main competitors operating in the target market.

  • Analyze Strengths and Weaknesses: Conduct a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats)

  • Understand Market Share: Determine the market share held by each competitor.

Entry Strategy

03

  • Decide the most suitable way to enter the market. Options include:

  • Joint Venture: Partnering with a local firm to leverage their market knowledge and resources.

  • Acquisition: Buying an existing company in the target market to quickly gain market presence.

  • Organic Growth: Building your own operations from scratch, which can be slower but allows for complete control.

  • Partnership: Forming strategic alliances with local firms to share resources and reduce entry risks.

Internal Capabilities

04

  • Resources: Assess the availability of financial, human, and technological resources needed for market entry.

  • Capabilities: Evaluate the company’s core competencies and strengths that can be leveraged in the new market.

  • Readiness: Determine the readiness of your organization to handle the challenges of entering a new market, including cultural adaptation and operational scalability.

  • Identify Potential Risks: List out all possible risks, including political, economic, social, technological, environmental,legal risks

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