Market Entry Research

What is Market Entry Research?

The 4 key pillars of Market Entry research (also called Brand Reacher)

Target Audience How to define my target customer and know what makes them tick? What do target customer value most when making purchasing decision?
Value Proposition How to build a complete and culturally resonating value proposition that is tied to unique selling point, positioning and competitive advantage? Are there any cultural norms that affect how consumers interact with the category in foreign country?
Product Management How to prioritize my product offering among the portfolio to meet the specific needs of local consumers?
Communication and Messaging What kind of key message should I address in my communication to effectively engage potential customer?

What’s a good example of Market Entry research?

Starbucks is a great example

Starbucks targeted CN young consumers who strived to imitate the Western lifestyle and showed interest for coffee drinking culture.
Starbucks positioned itself as the premium coffee brand in China and promoted Starbucks’ western culture and sells the idea of the “Coffee drinking experience”.
Starbucks modified their menu and tried to localize its brand name and product offering by selling products with special ingredients according to the choice of the Chinese people.
Starbucks is mostly depended on the people to spread goodwill through word of mouth. As a result, young urban Chinese associated visiting Starbucks as a symbol of social status.

rich results on Google's SERP when searching "market entry research" "Chinese market research" "Chinese consumer insights"

How is “Market Entry Research” different from “Go-to-market Research”?

“Market Entry Research” provides a holistic and consistent solution for brand to establish presence in foreign market via practical and actionable findings. “Go-to-market Research” addresses questions of new product and service launch and provides critical marketing guidance for getting them ready for the targeted market.

How can it help with your brand transformation and why is it important to your company?

Internationalization is the most accessible of all possible transformations a company can pursue, but it is still a challenging one. To successfully enter into new regions, brand needs to pay great attention to cultural resonation. Conducting Market Entry research is essential for brand to

Prioritize customer groups and understanding their drivers
Know what is my strength : what product or service is going to be outstanding in the new market, and leverage it.
Connecting with local Customers with an optimized product messaging to lower the barrier to product and service adoption.

Work

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