Key Elements in Crafting a Successful Market Entry Strategy

1
ARROWPOINT-MARKET RESEARCH AND INSIGHT SOLUTIONS

• Key Elements in Crafting a Successful Market
  Entry Strategy

2
Key elements which has to be studied before
crafting a market entry strategy for your
business or product
Opportunity may not be found tangible. However,
it can be identified. In todays world there
are number of external forces are impacting the
success of a business which is like never before,
conventional wisdom and handful experience alone
can no longer guide strategies for the future. To
gain a great strategic advantage, modern
companies must learn few ws before getting in to
the market - what, where, and why about the
market environment. Such market demands a highly
effective Competitive Intelligence strategy.
3
Since the era of globalization, it has been an
evident reality that the Indian retail markets
are not only dominated by well-established
domestic players but also face competition from
emerging mid-cap players and international
counterparts. Despite this, through extensive
market research conducted nationwide across
various sectors, Indian brands have discerned
opportunities amid rising prices and the rise of
small family units. By adopting best practices
and analyzing trends in manufacturing, design,
and marketing from diverse countries, these
Indian brands have not only positioned themselves
as formidable contenders but have also
outperformed multinational players on their own
home turf. In today's business landscape, where
external forces significantly impact success,
relying solely on conventional wisdom and
experience is no longer sufficient for shaping
future strategies. This holds especially true
when planning a new market entry. What may be
overlooked by one company could be a golden
opportunity for another. To gain a strategic
advantage, brands must delve into the
fundamentalsunderstanding the what, where, and
why of the market environment they intend to
enter.
4
Many brands collect data on an informal basis
about various factors persisting at the
marketplace and also about their key competitors,
but most of the times that is undertaken in an
unstructured manner by internal resources who
does not have enough experience in the area of
Competitive Intelligence and relevant other
methodologies as well. Such kind of ad-hoc
intelligence most of the times put them down
especially when they are assessing the
opportunities and risks of a new market which
they are planning to enter. Such kind of ad-hoc
competitive intelligence exposes them to high
risk of wrong decision making in their respective
businesses, which also can be catastrophic to
their business. 

• So, what is important when it comes to an
  effective structured competitive intelligence
  approach is primarily defining goals for market
  entry investigation.
• At Arrow Point, the following goals are some of
  the key pointers that a market entry
  investigation must have as part.
• We study the entire industry as in the present
  existence, and then identify the direction where
  it is headed towards.
• We identify any dynamics that are potential to
  affect a business, especially those which are
  beyond direct competition and in the industry
  horizon. We study the market shifts and key
  disruptions that are potentially impact a
  business.
• We identify all important questions that have to
  be asked or the key issues that has to be
  monitored and also identify key opportunities and
  threats.
• We create a foundation line for future as
  strategy. 

5
Aforesaid goals can also help us to gain an
objective view of an industry in current trend
and identify shift in trends and its dynamic
degree. Once we are done with such goal setting,
gathering intelligence data is a critical part
which has to be focused upon and that will help
us plan a new market entry effectively. Whether
our Client belongs to a B2C or B2B organization,
belongs to the business of manufacturing
products, selling products or offering services,
the following nine things that our competitive
intelligence research will deep-dive into for any
new market entry study 

• Assessment of Market / Industry (Market
  feasibility)
• Identifying and deciphering what target product
  or service is (for example fruit beverage
  versus carbonated beverage).
• Stock keeping units, Pack sizes / overall sales /
  revenues, in currency by value and / or units by
  volume (Global vs National vs Regional vs
  Territory) Performance in past, present, and
  future growth forecast and trends.
• Key Market drivers including consumption demand
  and statutory policy.

6
1. Competitor Landscape Identify major
competitors based on sales volume and revenue,
and evaluate their market share. 2. Performance
Trends Analyze market trends to identify
competitors gaining or losing ground, and
understand the reasons behind these shifts. 3.
Market Rank Determine competitors' market
positions, specifying whether they are in the top
five or top ten. 4. Emerging Players Identify
and assess emerging competitors in niche
segments, evaluating their strategies and value
propositions. 5. SWOT Snapshot Provide a
brief SWOT analysis for major competitors,
summarizing key strengths, weaknesses,
opportunities, and threats.
7
Competitive intelligence has consistently
provided enlightening perspectives, adept at
uncovering misconceptions prevalent in various
industries. It often brings to light issues that
were previously overlooked. For instance, a
common assumption might attribute a brand's
underperformance to incorrect pricing. However,
competitive intelligence reveals a more nuanced
reality, shedding light on factors such as
quality, delivery, customer service, reliability,
and innovation, among others. Arrow Point,
leveraging Competitive Intelligence tools, has
successfully assisted numerous brands in thriving
within the Indian market and competing globally.
These strategic insights have empowered client
brands to navigate the complexities of the market
with precision, executing well-crafted entry
strategies. It is evident that a meticulously
conducted market entry investigation is a crucial
tool for success, offering valuable insights that
pave the way for success in target markets.