Building never before-seen markets
As the business world continues to become more globalized, market development opportunities are opening up for established multinationals and new, domestic entrants. In the developing world particularly, millions of individuals are being lifted out of poverty due to education and foreign investment job creation. Billions are moving online, and mobile phone adoption is penetrating as deeply into rural villages as anywhere else. The new automobile and personal healthcare markets are thriving in select BRICS countries thanks to further newfound affluence.
However, certain countries are hesitant in accepting FDI into their economies, and are more favorable to domestic enterprises to create their own national industries. As market development experts, we identify paths to engage in un-tapped markets, guiding companies through government bureaucracy and overcoming nativist cultural distrust and unfamiliarity.
We work closely with companies to identify proper markets worth moving into, whether it be to market an end-product to a new demographic or to identify new opportunities where rising industries are in need of a global supplier.
We analyze market development feasibility based on multiple factors, from growth rate and competitor market penetration to cultural adaptability and purchasing power. We know that the businesses that positively mine multicultural values can create a step-change in stakeholder value.
Our multinational team has successfully led market development projects in the US, Asia and Europe. We help our clients realize how to succeed in new markets through cultural sensitivity, stakeholder perspectives and hyper-local positioning; and just as importantly how to avoid rejection and failure through perceived corporate imperialism.
MARKET DEVELOPMENT HAUS STAT #187: Emerging markets’ and developing economies’ annual growth rate amounted to roughly 5.2% in 2015, more than double advanced economies’ rate of 2.4%.