MEYER INDUSTRY RESEARCH: CONSULTING FOR MARKET ENTRY STRATEGY

MEYER INDUSTRY RESEARCH, as a professional market research company for market entry strategy in Germany, is your consultancy for obtaining important market, customer and competitive information for strategy development for new markets.

We have particular experience in market entry strategies in the industrial and B2B sectors in Germany. Among the clients of our market entry consulting firm are e.g. medium-sized and larger companies from the automotive, mechanical and plant engineering, medical technology and energy technology sectors.

CURRENT MARKET ENTRY STRATEGY - PROJECT EXAMPLES

For our clients, we develop customized market entry strategies that are individually tailored to the respective requirements. In many cases, our market analyses deal with innovative products and services in technology-driven markets. Our market entry analyses examine both domestic and foreign markets. In more than ten years, we have completed over 300 successful market entry projects for our clients. Using an intelligent mix of secondary sources and qualitative interviews with decision-makers in the target market, we create clarity for our clients.

Click on the project examples to get to know some exemplary market entry projects of MEYER INDUSTRY RESEARCH.

The networking of machines and plants in industrial production is increasing more and more. For our client, a software start-up, we developed a market entry strategy for a newly developed industrial networking protocol. The solution is used, for example, in the networking of logistics robots that autonomously provide goods for production in factory halls. To develop a market entry strategy, we conducted interviews with leading solution providers in the field of industrial networking, among others. Based on our findings, the start-up was able to systematically develop the new market.

Fuel cells are predicted to have great future potential for mobile and stationary applications. Even though the market is currently still in the development phase, attractive applications and potentially high unit numbers are already emerging in the medium term. For our client, we developed an individual market entry strategy for an automation solution in the field of fuel cell production and assembly of fuel cell stacks.

Supported by a growing world population and improved medical care, the market for pharmaceutical products has been growing at stable rates for years. Our client, a supplier in the field of specialized pharmaceutical packaging, commissioned us to develop a market entry strategy in the global market. A special focus of the market entry analysis was the identification and analysis of attractive target customers and their needs in Germany and abroad.

In order to meet the rapidly growing demand for Li-ion batteries for electric mobility, more and more automation and robotics are finding their way into battery production worldwide. For our client, a supplier of highly specialized automation systems for battery production, we developed a market entry strategy for opening up the global market.

For a young start up company developing a software in the field of Electronic Design Automation, we investigated target market and customer requirements for the planned market launch of the company. The interview-based project enabled the founders to better assess the opportunities and risks in the market and to identify key market entry barriers in time.

For our client, a nationwide operating engineering company in the infrastructure sector, we investigated the market, growth potentials, competition and future industry trends in the market for telecommunications engineering services. The analysis focused on markets in railroad technology, fiber optics, mobile communications and 5G network expansion, as well as the development of telecommunications systems in road infrastructure. The analysis served the client to further develop its own strategy and to prepare for entry into new, attractive growth segments.

While the automotive industry as a sales sector is becoming increasingly difficult for many suppliers, medical technology offers attractive prospects and growth potential. This is why we are receiving more and more project inquiries for the development of market entry strategies in the medical technology market. Mechanical engineers, component suppliers and service providers are increasingly looking at the opportunities offered by entry into the medical technology market. You can find numerous project examples on our medical technology industry page: Market analysis medical technology

The experience of the Corona crisis has shown that the food industry is a crisis-proof sector, which also achieves globally stable growth rates in the long term due to increasing world population. Therefore, more and more machine manufacturers, suppliers and service providers are looking at the opportunities of the industry and commission us to develop individual market entry strategies for the food industry in Germany and abroad. Trend topics such as automation and digitalization offer attractive growth potential for new market participants and suppliers.

For our client, a leading integrator in the field of Robotic Process Automation, we developed a market entry strategy for Robotic Process Automation Solutions in the pharmaceutical industry. In numerous industries, the automation of non-manufacturing tasks is on the rise. For example, the financial and insurance industries are already making intensive use of the possibilities offered by so-called Robotic Process Automation, but new industries such as the pharmaceutical industry are also increasingly tapping into efficiency and quality assurance potential through the use of software robots in administrative tasks.

Our client, a system manufacturer of optomechanical components, in particular for medical technology, commissioned us with an analysis to support the market entry strategy in ophthalmology (eye care). In specific application segments such as slit lamps and surgical microscopes, we developed the strategic and sales basis for the expansion of our client's market position.

The global market for battery management systems is growing rapidly from approx. 9 million units today to approx. 49 million units in 2027. 48V BMS will become the "new normal", with 400 systems initially dominating high-voltage architectures. 800V architectures are found in the performance segment, but increasingly also in the C and D segments. Against the background of these attractive growth potentials, we support a leading automotive supplier in entering the market for battery management systems and investigated market, competition and trends in the global market.

The market for medical cannabis and CBD products is growing internationally at double-digit rates. In Germany, too, an increasing number of players are operating in the market or are planning to enter the market if the legal situation is adapted accordingly. Our analysis examined the current state of development, the leading players in the market and potentials in the market segments for medical cannabis.

RESILIENT INFORMATION FOR YOUR MARKET ENTRY STRATEGY

Every market entry strategy requires a robust preliminary analysis in order to realistically assess opportunities and risks and to facilitate and accelerate the entry into the new industry for the company. To achieve these goals, we provide our customers with reliable information on the following market entry issues:

What quantities and sales potential does the target market offer? Which products and services offer the greatest potential?

What growth potential can be expected in the new areas? Which products and services are growing fastest? Which countries abroad offer the most attractive development potential?

Which segments or product areas have the most attractive potential?

Which competitors are currently active in the market? How do the competitors work the market and what are their strengths and weaknesses?

Who are the most important target customers in the industry? How concentrated is the customer landscape?

What are the key success factors and requirements for entering the new customer industry? Are there market entry barriers that make it difficult to access the market at home or abroad?

What trends are driving the companies (competitors, customers, suppliers) in the medium to long term? Are there innovative start-up companies in the area that are advancing new technologies and thus changing the landscape?

Based on this information on potentials, requirements and competition, we work with you to develop a resilient market entry strategy for your successful go-to-market and thus support you in your expansion and market launch at home and abroad.

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Frequently asked questions about market entry strategies

Here we answer some common questions asked by our clients about developing a market entry strategy:

A market entry strategy defines the way a company wants to enter a new market. The most common market entry strategies are access via a company's own resources (e.g., founding its own company), exporting out of the existing national company, joint ventures/shareholdings (cooperation with an often local partner), or purchasing a start-up or already established supplier in the market (M&A).

In order to determine the most suitable market entry strategy, a Market entry analysis market entry analysis is carried out. The market entry analysis is used for a robust assessment of strengths, weaknesses as well as opportunities and threats of the own company in the target market(SWOT analysis) and can also be used to identify potential cooperation partners or M&A targets.

The basis of a successful market entry strategy is a thorough investigation of the relevant market using professional market research methods. As the most important market research methods, one uses both secondary sources (e.g. statistics, databases, publications of companies in the market, professional articles) and primary market research methods (e.g. expert interviews, customer surveys, panels).

Entering new markets can be done in a number of ways: Most often, companies enter new markets through internal resources, i.e., by establishing their own presence in the target market. If a company works with a partner to develop a market, it enters the market through a joint venture. If a suitable acquisition target is available in the market, market entry can also be achieved by buying a player already active in the market(M&A). A variant of this is the acquisition of minority stakes, e.g. in start-ups operating in an innovative field. A structured Market and Competitor Analysis examines which market entry strategy is most suitable and which partners or acquisition targets are available in the target market.

A systematic market entry strategy is based on a solid understanding of market potential (market size, market segments, market growth), the competitive situation (market players, start-ups, M&A potential), customer requirements (key target customers/customer groups and their requirements, sales channels), and trends and regulations (e.g., legal requirements, technological trends) in the target market. On the basis of this information, a reliable decision can be made as to whether development with the company's own resources, a partnership or an M&A strategy will provide the most efficient market access.

A sound market entry strategy is based on multiple sources to obtain a balanced and up-to-date picture of opportunities and risks. For example, we use specialized international company databases, industrial trade press databases and international annual report databases . Of course, publicly available information is also evaluated in our market entry analyses, but this has to be carefully checked with regard to its resilience and reliability. In addition, we also frequentlyrely on expert interviews with market experts and decision-makers in the industry in order to obtain a neutral assessment of the ideal market entry strategy.

The costs for the development of a reliable market entry strategy depend on the investigated target market, the regionality of the investigation and the required detailed information. Typical budgets range between 10 and 50 thousand euros, and a timeframe of approx. 4-12 weeks should be planned for the careful implementation. We would be pleased to prepare an individual offer for your market entry strategy.

Do you have further questions on the topic of market entry strategy? We are happy to be your contact partner.

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PROFESSIONAL SUPPORT FOR YOUR MARKET ENTRY - EXTENSIVE REFERENCES

Managing directors, sales managers, strategy and business development managers at more than 100 client companies rely on our meticulous market analyses for one central reason: the uncompromising quality and reliability of the results from our market and competition analysis. Our discerning clients also appreciate the personal and open cooperation with our team and express this in numerous references - please see for yourself.

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INDIVIDUAL CONSULTING FOR YOUR COMPANY ANALYSIS

Trustful personal cooperation and the high quality and resilience of our analyses are top priorities at MEYER INDUSTRY RESEARCH.

 Gerne beraten wir Sie im Vorfeld einer möglichen Zusammenarbeit bei einer Marktstudie intensiv und unverbindlich, auf Wunsch auch bei einem persönlichen Termin bei Ihnen vor Ort. Wir freuen uns auf Ihre Anfrage und erstellen Ihnen gerne Ihr individuelles Angebot!

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