Export to new markets: Learning about your new market
To successfully launch your services and products within a new market it is important to develop a comprehensive understanding of market growth rates, forecasted demand, competitors, and potential barriers to entry.
Governmental departments such as the U.S. Department of Commerce (USA Export), Enterprise Ireland (Ireland Export), UK Trade & Investment (UK Export) and Austrade (Australia Export) can assist you when researching your chosen market. They offer export assistance programs and services to business ready to export.
Using the services of these agencies is an excellent starting point. However, you would require a tailor-made market research project to analyse the following key elements:
- Your direct competitors
- Confirm the suitability of your value proposition in the new market and early detection of potential barriers to entry
- Collect feedback from new customers
In order to minimise expenses and collect valuable information, your company should assign a market research team within your new market.
For example, if you are planning to enter the European market, Arema Connect can help you by:
- Researching your direct competitors through desk research, contacting organisation, conducting potential buyers surveys and mystery shopping to your competitors
- Confirm the suitability of your value proposition in Ireland and UK by conducting test workshops, focus groups and surveys.
- Collect feedback from your new customers: once you start to sell your product in the UK and Ireland, we can survey buyers and gather their feedback about their buying experience, the impression of the service/product and the perception of your international team.
For more information please contact us, Call us now at +44289 57 57 275 (UK) / +35321 482 4300 or email firstname.lastname@example.org to discuss your requirements with us.
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