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Global Marketing Insights, Inc. works with their clients to help them find new markets and plan market entry strategies with various assessments, programs and plans.
Global Assessment: Identifies what regions or countries of the world would be a potential market opportunity for your product or service. These research reports include an industry sector analysis that covers the market outlook for a particular industry. A recommendation of one to three countries to target your efforts is made by Global Marketing Insights, Inc. Senior Associates
Country Assessment This report is a detail assessment of the proposed country of interest that includes:
- Environmental assessment of the nation’s political
- economic, socio-cultural and technical factors
- Regional trade agreements
- Market audit and competitive analysis
- Information distribution channels
- Potential buyers
- Methods of entry
- Tariff and non-tariff barriers
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This is presented to you in a Country Notebook.
The Country Notebook is the basis for the development of a Foreign Market Entry Plan. A Foreign Market Entry Plan will help you plan your entry into a market and the Foreign Market Growth Plan will keep you in the market. These plans typically include:
Identification of marketing and sales objectives
Target market descriptives
Expected sales
Profit expectations
Market penetration and coverage
Marketing activities
Identification of target market
Alternative Methods of Entry (based on Country Assessment)
Development or redesign of tactical marketing plan
Product adaptation, or modification
Promotion strategy
Distribution strategy
Price strategy (includes terms of sale and methods of payment)
A proposed budget and implementation schedule
Resource requirements (finance, personnel and capacity)
Implementation and control plans
Key contacts from the United States’ Foreign Commercial Services
The Foreign Market Growth Plan is completed near the end of your first year of entry into the country market. This plan is completed in the same manner as the Strategic Plan.
Global Marketing Insights, Inc. also provides assistance with identifying and preparing for Trade Events. Our clients have found that trade shows, international buyer programs, matchmaker trade delegations programs or a catalog exhibition program can lead to tremendous international opportunities. We work with the U.S. Export Assistance Centers to help companies find the right trade event to promote their products and services.
Another service we provide for our clients is a customized seminar in cross cultural communications and international business concepts for global expansion for the country of entry. At Global Marketing Insights, our senior associates have worked in over 50 different countries, including:
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| I. Asia Pacific:
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| 1. |
Australia
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| 2. |
China |
| 3. |
Hong Kong |
| 4. |
Indonesia |
| 5. |
Japan |
| 6. |
Korea |
| 7. |
Malaysia |
| 8. |
New Zealand |
| 9. |
Philippines |
| 10. |
Singapore |
| 11. |
Taiwan |
| 12. |
Thailand |
| 13. |
Tibet |
| 14. |
Vietnam
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II. Middle East: |
| 15. |
Morocco |
| 16. |
United Arab Emirates |
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| III. Europe: |
| 17. |
Andorra |
| 18. |
Belgium |
| 19. |
Denmark |
| 20. |
England |
| 21. |
France |
| 22. |
Germany |
| 23. |
Ireland |
| 24. |
Italy |
| 25. |
Luxemburg |
| 26. |
Monaco |
| 27. |
Netherlands |
| 28. |
Portugal |
| 29. |
Scotland |
| 30. |
Spain |
| 31. |
Switzerland |
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| V.The Americas: |
| 32. |
Argentina |
| 33. |
Brazil |
| 34. |
Canada |
| 35. |
Chile |
| 36. |
Columbia |
| 37. |
Mexico |
| 38. |
Panama |
| 39. |
Paraguay |
| 40. |
Uruguay |
| 41. |
USA |
| 42. |
Venezuela |
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Country Assessment Provides
- Includes a short profile of the company, product to be exported and the country of interest.
- Reviews and highlights the country’s relevant history that may affect the sales of the product.
- Geographical setting (location, climate and topography)
- Political and Legal System Review
- Economic Analysis - General Economic Conditions: data that serve as a basis for an evaluation of the economic soundness of the country.
- Population (total and distribution)
- Economic statistics and activity
- GNP and GDP
- Personal income per capita
- Average family income
- Distribution of wealth
- Minerals and resources
- Surface transportation (modes, availability, usage rates and port)
- Working conditions
- Key industries*
- Foreign investment
- International trade statistics (exports versus imports, exchange rates)
- Trade restrictions (embargoes, quotas, import taxes, licenses, duties)
- Labor force (size, type and unemployment rates)
- Cultural/Social Data (executive dossier for country travel)
- Major social institutions (will it affect the sales of my product)
- Family
- Education
- Social Organization
- Religion and Aesthetic
- Living Conditions
- Diet
- Housing
- Clothing
- Recreation, sports and other leisure activities
- Language
- Technical/Technology: information on channels of distribution, media availability and telecommunications (type, availability and usage rates), overall current technology available.
Country Assessment Summary: After presenting the above data and analysis, an executive summary is prepared of the major points and opportunities it provides.
Market Industry Assessment (market audit and competitive market analysis)
Information in country assessment is more general in nature as it applies to the firm doing business in the selected country and product potential. This section is used to determine the market potential for the product and competitive market conditions.
Information from the Country Assessment serves as the basis for this section. The data generated in this assessment is used to determine market potential as well as the extent of adaptation of the product’s marketing mix. This assessment requires a more thorough marketing research investigation.
- The Product
- How innovated is it for the new potential country market:
- Competitive advantage
- Compatibility
- Simplicity or complex
- How will the product be accepted based on the Country Assessment
- The Market
- Describe the potential market for the new product in terms of:
- Geographical region
- Forms of transportation and communication available
- Consumer or B2B buying habits
- Distribution of the market
- Advertising and promotion
- Pricing strategies
- Compare and contrast your product to competitive products
- Forecast market size (industry sales for this product and potential market share for your product)
- Government regulation or de-regulation
Based on the analysis of the market, an executive summary is prepared to highlight the major challenges and opportunities requiring attention to your foreign market entry strategy or mix.
All of the information gathered to this point, provides the bases for the FMEP for your product in a targeted market. The FMEP reflects a strategic action plan to effectively and efficiently market your product in the selected country market. In this plan – the budgets, expected profits and additional resources necessary to implement the proposed plan are also presented.
* Identifies the growth of the industry the product will be competing in.
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Global in Scope, Practical in Approach
Strategists and Researchers for Information Technology
Phone: (216) 525-0600 Fax: (216) 525-0601
6801 Brecksville Rd. Ste. 206 Independence, OH 44131-5042
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