Market development: conquering new markets with a system

MEYER INDUSTRY RESEARCH supports you as a specialist for market development in Germany and the associated systematic investigation and evaluation of new markets. Whether for your internationalization, the expansion of your export business, the development of new sales markets in Germany or your market entry into completely new customer and market segments: Our market research ensures your business success and lays the foundation for the right market development in the German market.

We have special experience in market entry analyses in the industrial and B2B sector. Among the clients of a market entry analysis at MEYER INDUSTRY RESEARCH are e.g. medium-sized and larger companies from the automotive, mechanical and plant engineering, medical technology and energy technology sectors.

CURRENT PROJECT EXAMPLES FOR MARKET DEVELOPMENT

For our clients, we develop customer-specific analyses as the basis for a successful market entry strategy. In many cases, the research we conduct deals with innovative products and services in technology-driven markets. In more than ten years, we have been able to develop more than 300 successful analyses for systematic market development for our clients. Using 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 get to know some exemplary tasks of our customers in market development.

Our client, a service provider in the field of testing and certification, commissioned us with a structured market development analysis in the field of electromobility in various European country markets. Sales potentials within the entire value chain were investigated, from component manufacturing and charging infrastructure to service and billing models in the market. On the basis of the study results, our client can make targeted use of the development potential in the focus countries and align its strategy to areas with the greatest sales potential.

Our client, a company in the field of filter technology, has developed a technology for the production of respiratory masks that is unique in the market so far. Our market analysis examined target markets, sales opportunities, competitive positioning and suitable market partners as well as marketing models for the market launch . Based on the results of the market entry analysis, our client was able to select the appropriate market entry form and develop promising market development strategies.

Our client, a medium-sized manufacturer of components for commercial refrigeration technology, commissioned us to systematically identify potential target customers in European and non-European foreign countries as part of its internationalization strategy. The results of the analysis showed our client extensive sales opportunities in export and enabled him to develop new target markets abroad in a targeted manner.

Our client, a legal services company, commissioned us to conduct a market analysis on the market for medical cannabis and CBD products in order to develop new markets. The results of the analysis enabled our client to identify new mandates in a fast-growing market in a structured way and to understand the issues and challenges of the industry in detail.

Questions and answers about market development 

Here we answer some common questions asked by our customers in the context of market development:

Market development means systematically entering new markets. This can mean both new country markets (internationalization) and product markets (new products/services, applications or new target groups). Markets can be entered systematically and successfully if the requirements and challenges of the new market are precisely known. For this purpose, as a basis for market development, a Market entry analysis is carried out.

This systematically examines the defined target market on the basis of defined criteria/questions, e.g. market size/market potential, competitive situation, customer requirements and market entry barriers.

The market entry analysis serves as a reliable assessment of strengths, weaknesses as well as opportunities and threats of the own company in the run-up to the market entry(SWOT analysis). Based on these results, a general decision can be made regarding the attractiveness of market entry (market entry yes/no), but also the appropriate Market entry strategy (e.g. own location, export, joint venture, acquisition) can be chosen.

As 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) for market development.

Important decision fields 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 sales channels, (6) regulations and requirements, and other strategic influencing factors in the target market.

Based on this information, the appropriate form of market entry as well as the suitable marketing models for market development can be derived.

In order to successfully position your company in the new sales market, we use a wide range of data sources. For this purpose, we have access to important databases in Germany and abroad and can thus quickly and efficiently compile the central information for your business development. In addition, we use information in trade journals, market studies, annual reports of other market participants, investor relations documents and other strategically relevant sources on your sales market. Also important for the success of the market analysis is our know-how in conducting expert interviews, which can provide deeper insights into success factors in strategy, product policy, marketing and cost structure in the target market.

A solid market analysis not only looks at the opportunities and potential of a market entry project, but also examines the risks for the company. In particular, the strength of the positioning of the competition, the realistic possibility of establishing a USP (unique selling proposition) in the competitive environment, the cost and price structure in the market, and access to distribution channels are critically examined. Regulatory factors can also make exporting or direct investment in a country risky for a company and can be obstacles to a market entry decision.

Typical B2B market development projects last between 4 and 12 weeks, depending on the scope and methodology used. During the project duration, we regularly coordinate with you and provide you with interim results.

Do you have any further questions regarding your market development project? We will be happy to be your contact: Contact

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PROFESSIONAL MARKET INFORMATION IN THE B2B SECTOR - 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 resilience of the results of our market studies. Our demanding customers also appreciate the personal and open cooperation with our team and express this in numerous references - please get an impression yourself.

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INDIVIDUAL CONSULTING FOR YOUR MARKET ANALYSIS

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

 We would be happy to advise you intensively and without obligation in the run-up to a possible cooperation on a market study, if desired also at a personal appointment at your site. We look forward to your inquiry!

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