our expertise, your success
Explore and Conquer New Markets
In the past two decades, globalization has become the norm, and many companies have realized that to grow big and, sometimes, even to survive, it is dangerous to focus on an internal/local or even regional market only, but there is a need to explore various international market places.
For a company wishing to do business abroad, there are always many options available – manufacturing in its own country and exporting, selling to a third party and exporting, contract manufacturing and licensing, franchising, manufacturing abroad and through the creation of the joint ventures etc. Each option has its advantages and disadvantages. It depends on the productivity level within the home country and abroad, currency rates and inflation levels, tax regimes, customs fees and regulations, intellectual property rights, technology transfer framework, cost of production, access to raw materials and human resources and many other factors.
Some strategies involve huge investments, compliance issues with different local laws, taxation issues etc. Some strategies receive much support from federal, provincial and city-level governments, as foreign trade, investment and manufacturing can boost employment, income generation, infrastructure building, enable technology transfer and scientific collaboration leading to the rapid growth of the local economy.
Export development and new market entry projects involve a comprehensive knowledge of market research technologies, business analytics to identify opportunities and threats, strategic planning techniques, as well as expertise in business networking and strategic partnership building, stakeholder relations management, product/service and business process modelling/reengineering, as well as developing new pricing and sales/promotion policies.
HGM Consulting can act as a strategic bridge for a client’s market entry or business expansion efforts offering specialized and perfectly tailored support in market intelligence and business development. We emphasize flexibility in our services to meet your specific business needs and objectives.
In the past two decades, globalization has become the norm, and many companies have realized that to grow big and, sometimes, even to survive, it is dangerous to focus on an internal/local or even regional market only, but there is a need to explore various international market places.
For a company wishing to do business abroad, there are always many options available – manufacturing in its own country and exporting, selling to a third party and exporting, contract manufacturing and licensing, franchising, manufacturing abroad and through the creation of the joint ventures etc. Each option has its advantages and disadvantages. It depends on the productivity level within the home country and abroad, currency rates and inflation levels, tax regimes, customs fees and regulations, intellectual property rights, technology transfer framework, cost of production, access to raw materials and human resources and many other factors.
Some strategies involve huge investments, compliance issues with different local laws, taxation issues etc. Some strategies receive much support from federal, provincial and city-level governments, as foreign trade, investment and manufacturing can boost employment, income generation, infrastructure building, enable technology transfer and scientific collaboration leading to the rapid growth of the local economy.
Export development and new market entry projects involve a comprehensive knowledge of market research technologies, business analytics to identify opportunities and threats, strategic planning techniques, as well as expertise in business networking and strategic partnership building, stakeholder relations management, product/service and business process modelling/reengineering, as well as developing new pricing and sales/promotion policies.
HGM Consulting can act as a strategic bridge for a client’s market entry or business expansion efforts offering specialized and perfectly tailored support in market intelligence and business development. We emphasize flexibility in our services to meet your specific business needs and objectives.
Our market research will show the market potential for your company and you will receive the tools to make an informed decision to effectively approach the market:
- Information about market value and growth potential.
- Identification of factors that stimulate market growth and of barriers, including market entry restrictions.
- Key market players, direct and indirect competitors, and potential partners.
- Competitive analysis showcasing the strongest players along with their business models and sales models, products offered, as well as the dominant marketing strategies and pricing.
- The general outlook of the economic, social and political environment, including business mentality/practices, and purchasing preferences/shopping habits.
- Compilation of the regulations and industry standards.
- Information on tariffs, border taxes and customs procedures.
- List of distributors, resellers, importers and other agents so that all entry strategies can be considered.
- Determining market growth prospects and potential earnings.
- Practical advice to prepare your company for any potential challenges and to undertake concrete actions: various scenarios to proceed with the in-built risk management strategies.
HGM Consulting can provide the right combination of market intelligence and practical assistance that gives clients support necessary to build a lasting competitive advantage while entering a new market or expanding operations within a national or regional market.
HGM Consulting can provide the right combination of market intelligence and practical assistance that gives clients support necessary to build a lasting competitive advantage while entering a new market or expanding operations within a national or regional market.
We will assist your company in developing a market entry strategy that will effectively utilize the preliminary identified competitive advantage of your products and services:
- We will advise on what decision to make - whether it is worth investing and what market segment has the highest sales potential.
- We will help to identify business partners, will assist in negotiations and the creation of joint ventures.
- We will suggest a business model that has the best chance of succeeding, including the product/service development strategy, the use of distribution channels, marketing materials etc.
- We will create a market entry/expansion strategy: partnerships, business operations, supply, sales, marketing and positioning strategy, etc.
We always use our local intermediaries, local counterparts, to open doors and build a level of trust working with local businesses, investors, banking institutions and government authorities. Many markets require new partnership development, sales and marketing approaches to make sure that cultural norms and local business practices are followed. We will evaluate the potential partners against your requirements and conduct lead generation activities assisting you in building strong business alliances. We will create a step-by-step plan for establishing the right collaborative and supporting business environment around your company’s business initiatives.