WE CAN OFFER MARKET ENTRY
Entering a new market is a complex process that requires careful planning, analysis, and execution. The essential steps involved in performing a successful market entry, highlighting the importance of each step in ensuring a well-planned and strategic approach.
The first step in market entry is comprehensive market research and analysis. Our team will engage in understanding the target market's demographics, preferences, spending behaviors, and potential demand for the product or service. Market research can be performed using both primary and secondary data sources. Regarding primary data, we might carry out surveys, interviews, focus groups or work with industry and goverment stakeholders for consultations, while for secondary data we will study existing reports, and academic articles.
A thorough analysis of competitors is also crucial. We will assist you in identifying direct and indirect competitors, analyzing their strengths and weaknesses, and understanding their market share. This competitive analysis helps you in identifying gaps in the market and opportunities for differentiation.
Depending on your priority or unique product line, we will help you select the right market entry strategy, which is crucial to the success of the venture:
1. Exporting involves selling products in the target market in Vietnam. It is a low-risk strategy with minimal investment but might involve high transportation costs and tariff barriers. We will assist you in connecting with local partners, including logistics companies, distributors, or potential end-users to facilitate your valued supply chain as well as achieve sales target at key milestone.
​
2. Wholly-Owned Subsidiaries involve setting up a new, entirely company-owned entity in the target market. Though it offers complete control, it requires significant investment and bears higher risks. We will help you identify these potential risks and propose solutions to overcome them. For instance, relocating used machinery demands a thorough understanding of national and local regulations—an area in which our teams are expert.
​
3. Joint Ventures involve partnering with local firms to share resources, risks, and expertise. This strategy provides local market knowledge and reduces risks but requires effective management of partnerships and potential cultural clashes. With our vast network across various industries, we have the expertise to identify the ideal partner for your needs.
Franchising or licensing are also effective market entry strategies, and we are well-equipped to support you in implementing them.
​Beyond providing business intelligence, we will offer the highly-skilled headhunting service, supply chain initiatives, sustainability strategies, sourcing solutions and supply chain connectivity. In addition, to facilitate your prospect projects, we will assist you to set on the risk management framework in place to identify, assess, prioritize risks, then allocate our resources to minimize, monitor and control its potential impacts of future events.
​