MARKET DEVELOPMENT: CONQUERING NEW MARKETS SYSTEMATICALLY

a specialist in market entry analysis, supports you and the associated systematic investigation and evaluation . Whether for your internationalization, the expansion of your export business, the development of new business areas, or market entry into new sales markets: Our market research secures your business success when you want to develop new markets and lays the foundation for the right market approach.

We have particular expertise in market entry analyses for the industrial and B2B sectors . Clients of MEYER INDUSTRY RESEARCH who have commissioned market entry analyses include, for example, medium-sized and larger companies from the automotive, mechanical and plant engineering, medical, electrical, and energy technology sectors.

CURRENT PRACTICAL EXAMPLES OF MARKET DEVELOPMENT

customized analyses for our clients market entry strategy . In many cases, our research focuses on innovative products and services in technology-driven markets. Over the past ten years, we have produced more than 300 successful analyses for our clients, enabling systematic market development. Through a smart mix of secondary research and in-depth interviews with experts and market participants, we provide clarity for entering new markets.

Click on the project examples to learn about some of the tasks our customers have undertaken in developing the market.

Our client, a company in the testing and certification industry, commissioned us to conduct a structured analysis of market entry in the field of electromobility in various European national markets, including the home market.

The study examined sales potential within the entire value chain, from component manufacturing to charging infrastructure and service and billing models in the market.

Based on the study results, our client can specifically utilize the development potential in the focus countries and align its strategy with areas offering the greatest sales potential.

A company in the field of filter technology has developed a technology for the production of respiratory masks that is unique on the market so far.

Our market analysis examined target markets, sales opportunities, competitive positioning and suitable market partners as well as marketing models.

Based on the results of the market entry analysis, our client was able to choose the appropriate market entry method and develop a promising market development strategy.

Our client, a medium-sized manufacturer of components for commercial refrigeration technology, commissioned us, as part of its internationalization strategy, to define and systematically identify potential target customers in Europe and non-Europe.

The results of the analysis revealed extensive export sales opportunities to our client, enabling them to strategically develop new target markets abroad. Furthermore, they provided important insights for marketing in the respective countries.

Our client, a legal consultancy, commissioned us to conduct a market analysis of the medical cannabis and CBD products market to develop new markets.

The results enabled our client to systematically identify new mandates in a rapidly growing market and to gain a detailed understanding of the industry's issues and challenges.

QUESTIONS AND ANSWERS ABOUT MARKET DEVELOPMENT

Here we answer some frequently asked questions from our customers regarding market development:

Market development refers to the systematic entry into new markets encompass both new national markets (internationalization) and product markets requirements and challenges market entry analysis as the basis for their market development strategy .

Once the target groups have been defined, the defined target market is systematically examined based on specific criteria/questions. Components of the examination can include, for example, market size/potential, market shares, competitive landscape, growth potential, customer requirements, and barriers to market entry .

Market entry analysis serves to reliably assess the strengths, weaknesses, opportunities, and threats of a company prior to market entry ( SWOT analysis ). Based on these results, a general decision can be made regarding the attractiveness of a market (market entry yes/no), and the appropriate market entry /development strategy (e.g., own location, export, joint venture, acquisition) can be selected.

Market research methods and analysis tools used in market development include both secondary sources (e.g. statistics, databases, company publications in the market, specialist articles) and primary surveys (e.g. expert interviews, customer surveys, panels).

Key decision areas in market development include: (1) sales opportunities (market size/market potential), (2) competitors and their market development strategies, (3) potential customers and their needs/key success factors, (4) price level in the market, (5) marketing and distribution channels, (6) regulations and requirements, and other strategic influencing factors in the target market.

Based on the collected data, the appropriate market entry strategy and suitable marketing models for market development can be derived. Goals and tasks for strategic planning and marketing can also be defined.

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To successfully position your company in the new sales market, we use a wide range of data sources.

Secondary research / Desk research

We have access to important databases both domestically and internationally, enabling us to quickly and efficiently gather the key information for your company and business development. In addition, we utilize trade journals, market studies, annual reports from other market participants, investor relations documents, and other strategically relevant sources concerning your sales market.

The advantage of this data collection method for your company is the faster availability of information through querying resources worldwide. However, secondary data is not available for all markets and questions. In such cases, primary data sources must be used.

Primary research/expert interviews

MEYER INDUSTRY RESEARCH has experience and knowledge in conducting expert interviews that can provide deeper insights into success factors in strategy, product policy, marketing and cost structure in the target market.

We offer services throughout the entire process. From creating a questionnaire/interview guide and selecting and contacting suitable interviewees to conducting the interviews and structuring and processing the individual responses. Companies also have the option of commissioning us to handle only specific steps of the primary data collection process

The goals and tasks of a sound market analysis include not only considering the opportunities and potential of a market entry project, but also examining risk factors for the company.

Potential challenges include, in particular, the strength of competitors' market positioning, the realistic possibility of establishing a USP (Unique Selling Proposition), the cost and price structure in the market, and access to target groups. Regulatory factors can also make exporting or direct investment in a country risky for a company and be obstacles to market entry.

Typical B2B market development projects last between four and twelve weeks, depending on their scope and the methodology used. During the project, we will regularly coordinate with you and provide interim reports on the results.

Do you have any further questions regarding your market development project? We would be happy to assist you with our broad portfolio of services.

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market development_factsheet

PROFESSIONAL MARKET INFORMATION IN THE B2B SECTOR – EXTENSIVE REFERENCES

Managing directors, sales managers, and strategy and business development managers at over 100 companies rely on our meticulous market and competitive analyses for one key reason: the uncompromising quality and reliability of our market study results.  Our discerning clients also value the personal and open collaboration with our team, as evidenced by numerous testimonials – please see for yourself.

Further references

Individual consultation for your company analysis

At MEYER INDUSTRY RESEARCH, a trusting personal partnership and the high quality and reliability of our analyses are our top priorities.
We would be happy to advise you in detail and without obligation before any potential collaboration on a market study , including, if desired, a personal meeting at your location. We look forward to your inquiry and will gladly prepare a customized offer for you!

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