Market Entry

When an organisation has made a decision to enter an overseas market, there are a variety of options open to it. These options vary with cost, risk and the degree of control which can be exercised over them. The simplest form of entry strategy is exporting using either a direct or indirect method such as an agent, in the case of the former, or countertrade. we asssit orgaissations gain access to new markets.

To be successful in your exporting efforts, it is very important to gain a comprehensive understanding of the foreign markets you plan to operate in. You need to conduct  thorough market research, identify potential markets for your products and services, and if possible visit your target markets. You also need to decide on a market entry strategy before you actually start exporting.

 

The Centre for Export Development helps organizations with:

  • Market entry strategies
  • Market research
  • Identifying potential markets
  • Market size and growth
  • Market accessibility
  • Economic conditions
  • Cultural, legal and political factors
  • Visiting target markets – After narrowing down your options, it can be beneficial to visit the markets you plan to target with your exporting strategies. Visiting these markets can help you to:

o Gain a firsthand experience of market.

o Build your understanding of the market potential and opportunities.

o Gain a clear insight into the customer’s needs and wants.

o Observe how customers and competitors operate in the market.

o Identify costs involved in the distribution channels.