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Am I ready to launch in emerging markets?
As a business seeking growth you will have undoubtebly looked at the growth opportunities presented by China, India, Nigeria and the UK. The questions you will be asking yourself may be;
- Is there a market for our product in these overseas markets?
- What competition exists for our products in these markets?
- Is our organisation ready for international expansion?
- What will be the costs of launching overseas?
- How do we launch overseas? What are the first steps?
- What should be our marketing strategy?
From our experience we know the opportunities that exist in these emerging markets, the key is to develop the right entry strategy whilst developing the skills and support required to maintain international success.
How Paragon International can help.....
With a strategic focus we enable our clients' to meet their goals for international expansion into China, India, Nigeria and the UK. The breadth and depth of Paragon International’s expertise and network allows us to create a 'in country' project team that meets the clients needs. All engagements begin with an initial assessment where we spend time understanding your company and ambitions. The output of this assessment will be objective feedback and a clear recommendation as to implementation support and guidance required to ensure you meet your goals for China, India, Nigeria or the UK rapidly.
"We enable our clients to meet their goals for international expansion into China, India and Nigeria"
Each client is then assigned a dedicated account manager to ensure continuity and smooth implementation of the project at each stage. The project is tailored to the clients specific needs and objectives, allowing us to develop the ideal solution for entry and growth in the China, Indian, Nigerian and UK markets.
Our Market feasibility study establishes a logical, defensible analysis of market potential and key operating concerns regarding the products and/or services offered. The study is not only valuable for a company that is venturing out into a new country, but can also be invaluable for companies established in China, India, Nigeria or the UK not meeting sales expectations.
Typically the study will comprise of:
- Industry overview
- Market potential for product/service
- Barriers/obstacle to market entry
- Target markets
- Identification of critical success factors
Our Industry Analysis report provides essential detailed intelligence for your industry. Typically the study will comprise of:
- Market size and segmentation
- Regulations and legislation
- Customer needs, usage and attitudes
- Distribution channels
- Competitor activity, strategy and performance
Organisational Readiness Assessment
An Organisational Readiness Assessment will determine the organisation’s ability to manage a launch internationally. The assessment will identify leverage points and potential problem factors related to the organisational and human risks of the launch project. Paragon’s team has tools and techniques to assess the project risks, anticipate reactions, and overcome barriers.
To assist with rapid evaluation of international markets Paragon International can plan and accompany you on your visit to China, India, Nigeria or the UK. The service covers all aspects of your trip including:
- Planning your visit, liaising with key contacts, arranging your travel schedule and other logistics
- Translation of all your business card and brochure material
- Provision of market research for your sector, finding suitable partners to work with
- Arranging interpreters
- Accompanying you on the visit, ensuring any opportunity is maximised
Market research should be an integral part of your launch into any new market. Companies who realise the importance of research already have a competitive advantage. If you are considering entering China, India, Nigeria or the UK, you can reduce the amount of time and money you would spend on unsuccessful overseas visits, by obtaining accurate, impartial and useful information. We appreciate that each company requires different levels of assistance, so we produce bespoke and tailored research programs to satisfy your information needs. With access to our global network of sources and research professionals, including the British Embassies and International Chambers of Commerce we can produce up-to-date, precise and useful information to help make your launch successful.
Market Entry Strategy
After completion of our market feasibility study and Organisational Readiness Assessment, we will determine your best entry strategy (including marketing) into the China, Indian, Nigerian or the UK market.
The seminar-style workshop with your Company’s directors will clarify and agree on long-term goals, as well as industry positioning, core values, and competitive advantages. The documented strategy will
- Assist in locating the best possible entry points in relation to the sale of products in the new market.
- Verify if your business/products are viable in target markets
- Define criteria for in country business partners
- Formulate an implementation and launch plan with milestones
- Define the product 'localisation' line and pricing schemes
- Design the in country management structure of the parent and its subsidiaries
- Determine head office support structure
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