Analytics and marketing research when entering foreign markets
Before entering the markets of other countries, it is necessary to understand how developed the target market is, how many consumers will buy your product or service, how many competitors you will have, how they work and what factors will bring your product to a leading position. Inverra company conducts export market research, which provides an opportunity to improve and adapt the company's development strategy to local characteristics.
When choosing a foreign market for production, you get the following research structure:
Product and target market analysis. Determining the key factors that will shape the demand for your product. These can be the macroeconomic indicators of the country, demographic factors, the presence of restrictive legislation, import duties and taxes, saturation of the market with competitors, and cultural characteristics of consumers.
Selection of numerical parameters for each factor. Without the right digitization methodology, criteria information will not carry the critical information needed to make a go-to-market decision.
Giving each criterion a weighting factor that will show the importance of the influence of one or another factor.
Building a multifactor model that will reliably show the most promising markets for your product and service.
A detailed analysis of the markets that best meet the criteria determined during the analytical study, as well as your wishes and opportunities: you will see to whom, at what price and in what volumes it will be possible to promote your product, in which channels it is more profitable to place your product and with what methods promote goods and services.
The result of the research is conclusions and recommendations based on analytical calculations, which allow you to form a strategy for your company's successful entry into the markets of other countries and start the search for companies that can be your direct customers or partners during the sale of products in the markets.
Also, the Inverra company offers you a comprehensive service for research and strategy writing when entering foreign markets. You can read more about the service at the link.
During the preparation of analytics, various sources of information are used, among which the following stand out:
data from Statistical Agencies (by country)
data of the European Bureau of Statistics
data of market operators
data from the UN, World Bank, EBRD and other international organizations
internal data Inverra company
information obtained by conducting quantitative and qualitative research in other countries, etc
The result of the research is conclusions and recommendations based on analytical calculations, which allow you to form a strategy for your company's successful entry into the markets of other countries and start the search for companies that can be your direct customers or partners during the sale of products in the markets.
Also, the Inverra company offers you a comprehensive service for research and strategy writing when entering foreign markets. You can read more about the service at the link.
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