Your Common Industry Questions Answered: What Are International Market Entry Strategies?
December 15, 2020at5:00 AM
If your company is ready to enter new markets, you may consider international expansion. For agricultural or food and beverage companies, entering the global market is one of the best ways to achieve growth and security in an uncertain market. However, entering any new market can come with unforeseen challenges.
Companies who partner with market entry strategists get instant access to expert market knowledge informed by experience and singular focus on their future success.
Key components of international market entry strategies.
Working with an experienced consulting team, you’ll get a data-driven analysis of potential markets based on your company’s profile and potential market viability. The prismatic complexities of pursuing international growth can be overwhelming at first. That’s why the Eliasan Consulting team builds each strategy on a foundation of critical components:
Competition analysis: our market development strategies stem from examining competitors’ strengths and weaknesses.
Potential audience: by targeting smaller audiences, you maximize your investment in new markets. We look internationally to connect you with your people.
Market viability: no one has a crystal ball to see into your company’s future. But we analyze data using our unique expertise to give you realistic projections about future market growth.
Trade barriers: because we have years of experience working internationally, we know the obstacles you’ll face before they arise.
Market entry strategists have not only the expertise to navigate your company’s entry into international exports; they also know the landscape through firsthand experience.
When you schedule an appointment with Eliasan Consulting, we’ll explain what market entry strategy and development can do for your company.
Common international market entry strategies.
There’s no single best way of entering international markets. Only a consultant who has years of experience guiding companies into new markets can do an in-depth analysis to find the best strategy for you and your company.
In direct exporting, companies sell products in new international markets. Instead of working through a third-party distributor, they market directly to an audience in a different country. Some businesses decide to work with agents to run a sales program once they’ve established a customer base in that new market.
Licensing is ideal for when a manufacturer already has a large share of the market that a company is interested in entering. The company sells its product’s rights to the manufacturer, who then handles production and sales.
Franchising has been widespread for years in the United States as a cost-effective way of expanding into new markets. It’s becoming a more popular option in international markets as well. It’s a fast way to enter a new market for companies with strong brand recognition and an easily reproducible business model.
Foreign Market Partnering
Finding partners in foreign markets is a common strategy, and consulting firms with experience in B2B matchmaking know how to generate strong relationships for future growth. No two partnerships are alike. With the help of market entry strategists, businesses can find partners and partnership structures that support their future development.
Get your industry questions answered by scheduling a consultation with Eliasan Consulting today.
Expanding your business into international markets isn’t just offering your products and services to a broader customer base. It’s like starting a brand new company with unique challenges and obstacles. It’s also one of the most rewarding aspects of growth with incredible opportunities.
At Eliasan Consulting, you’ll work with an experienced, knowledgeable consultant team. You’ll enter new markets with personalized, data-driven strategies. Openness and honesty are foundational to our work, so we take the time to get to know our clients.
Our team’s backgrounds in international market development, global management, and international policy and appropriations in the U.S. House of Representatives give them the expertise and ambition to help premium agriculture, food, and beverage companies enter new markets.