MARKET DEVELOPMENT: CONQUERING NEW MARKETS SYSTEMATICALLY

a specialist in market entry analyses, MEYER INDUSTRY RESEARCH supports you and the associated systematic investigation and evaluation of new markets . 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 ensures your business success when you want to develop new markets and lays the foundation for the right market development.

We have particular experience in market entry analyses for the industrial and B2B sectors . Clients for market entry analyses at MEYER INDUSTRY RESEARCH include medium-sized and large companies in the automotive, mechanical and plant engineering, medical, electrical, and energy technology sectors.

CURRENT PRACTICAL EXAMPLES OF MARKET OPERATION

We develop customized analyses for our clients as the foundation for a successful market entry strategy . In many cases, the research we conduct focuses on innovative products and services in technology-driven markets. In more than ten years, we have completed over 300 successful analyses for our clients on systematic market development. Through an intelligent mix of secondary research and in-depth interviews with experts and market participants, we create clarity when entering new markets.

Click on the project examples to learn more about some of the tasks our clients have undertaken in market development.

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

Sales potential was examined within the entire value chain, from component production and charging infrastructure to service and billing models in the market.

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

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

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

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

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

Our client, a legal consulting company, 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 identify new mandates in a rapidly growing market in a structured manner and to gain a detailed understanding of the industry's issues and challenges.

QUESTIONS AND ANSWERS ON MARKET OPERATION

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

Market development means the systematic entry of new markets . This can refer to national markets (internationalization) and product markets requirements and challenges market entry analysis as the basis for market development .

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

The market entry analysis serves to provide a reliable assessment of a company's strengths, weaknesses, opportunities, and threats prior to market development ( SWOT analysis ). Based on these results, a general decision can be made regarding the attractiveness of a market (market entry yes/no), as well as the appropriate market entry /market development strategy (e.g., own location, export, joint venture, acquisition).

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

Important 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/important success factors, (4) price level in the market, (5) marketing and sales channels, (6) regulations and requirements as well as other strategic influencing factors in the target market.

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

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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, allowing us to quickly and efficiently compile the key information needed for your company and business development. We also utilize trade journals, market studies, annual reports from other market participants, investor relations documents, and other strategically relevant sources related to your sales market.

The advantage of this data collection method for your company is the faster availability of information by accessing resources around the world. However, secondary data is not available for all markets and issues. In these 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 approaching suitable interviewees to conducting the interviews and the structured condensation and processing of individual statements. Companies also have the option of commissioning us for individual steps of the primary data collection process.

The goals and tasks of a solid 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 the positioning of competing companies, the realistic possibility of establishing a USP (Unique Selling Proposition), the cost and pricing structure in the market, and access to target groups. Regulatory factors can also make exports or direct investments in a country risky for a company and act as obstacles to a market entry decision.

Typical B2B market development projects last between four and twelve weeks, depending on the scope and methodology used. We will regularly coordinate with you throughout the project and provide you with interim 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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PROFESSIONAL B2B MARKET INFORMATION – EXTENSIVE REFERENCES

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

Further references

INDIVIDUAL CONSULTING FOR YOUR COMPANY ANALYSIS

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

We would be happy to provide you with an in-depth, non-binding consultation prior to a potential collaboration , including a personal on-site consultation upon request. We look forward to receiving your inquiry and will be happy to prepare a customized quote for you!

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