Entering a new country is an investment
Nothing is worse for the Return on Investment of your market entry than searching a partner, concluding an agreement, adapting your product, training the partner and then to find out that the market is practically non-existent or that your partner doesn’t know how to open it.
Start with getting to know the country
This is what happens quite often. And although you can always see it as a learning experience and move on to the next country, these risks can at least be reduced. First of all by knowing the country better than just the airport and the capital’s central business district. Or having a trusted person who knows and can help you to define the right entry strategy.
Market research will increase your chances for success
Second of all by researching the market. Extensive (and expensive) quantitative reports mostly do not provide the information that can turn your decision one way or the other. More qualitative research, such as distributor opinions or a pilot with end customers can help to provide that information. This research may lead to a decision not to enter the market: which will save you from a failure.
Read the original article and more information on export strategy and international business opportunities on the Alliance experts website.