“Market Entry is a complicated activity that involves many strategic business decisions.”
— Jeslin Bay (Managing Partner of BlackStorm Consulting)
Uber, one of the early entrants providing services such as ride-hailing, food delivery and transportation, decided to leave the fragmented Southeast Asia market. After operating for 15 years in Singapore, Carrefour has decided to exit Singapore as one of the main reasons is its inability to differentiate from its competitors and retain customers.
Undoubtedly, Market Entry is a complicated activity involving many strategic business decisions that even multinational corporations can fail at. It involves the need to develop and re-evaluate the product and its positioning in the market. Company will also need to consider various factors such as barriers to entry, the cost of marketing, sales and delivery, and the estimated demands to enter the new market.
The company’s challenges are even greater when entering a foreign market that bears little resemblance to its home country. Southeast Asia is one such region that companies have faced difficulty establishing a foothold in.
According to data from the Asian Development Bank, Southeast Asia grew at a robust 4.8% in 2019 and has been touted as one of the fastest developing regions in the world, attracting companies with its increasingly educated and affluent workforce. In recent years, attempts to wholesale-replicate business models that succeeded abroad in Southeast Asia have been met with resistance from both its residents and the local authorities for various reasons.
In this course,
1. Uncover what to consider when expanding a business into Southeast Asia or any parts of the world.
This course offers you the opportunity to explore the strategies companies exploit to expand internationally and discover the most effective global market entry strategies for your targeted market.
2. Delve into foreign market entry strategies
You’ll understand how to use a systematic approach to form a considered market entry strategy. Every business needs an action plan to bring it to life. This course will give you the chance to review everything you need to know to build a robust strategy — from product offerings, pricing mechanisms, unique selling propositions to distribution strategy.
3. Learn and apply international business strategy and global market entry strategies
You’ll learn to apply international business strategies, models, and techniques that businesses may implement when taking their services to new geographies.
By the end of this course, you’ll understand the factors businesses must consider in international market entry and the tools you can use in your strategies.
What is going to be covered
- Defining Market Entry
- Framework for Preparation of Market Entry
- Identify the 4 Key Elements of your Business
- Understand the 3 P’s of your Offering
- Finding the right type of Product Offering
- Pricing your Offering
- Distribution Strategy for your Offering
- Effective Researching
- Understand the new Market Environment
- Crafting your Unique Selling Proposition
- Review your Market Entry Strategy
- People and Process Aspects of Strategy Internalisation
- (Slide) Courseware — How to Prepare for Market Entry in Southeast Asia
- (Excel) Worksheet — Preparation for Market Entry — Activity 1: Factual Check
- (Excel) Worksheet — Preparation for Market Entry — Activity 2: Research on the New Market
- (Excel) Worksheet — Preparation for Market Entry — Activity 3: Review your Market Entry
- All business owners or entrepreneurs currently in or intending to branch into Southeast Asia (SEA)
- Business development executives intending to upgrade their skills in venturing into new markets
- Aspiring entrepreneurs or startup founders researching entry into SEA
By the end of the course, you’ll be able to:
- Identify the offerings, customers, unique selling proposition, and partners in your home country or headquarters.
- Research effectively about your targeted new market.
- Review your plan from a macro perspective.
- Internalise all these changes from 2 aspects — process and people, to ensure your business can run smoothly.
Gain an edge over your competitor and set a foothold in foreign markets with the right market entry strategy. Visit this link on Techgoondu Learn to enrol in this course today!
About BlackStorm Consulting
BlackStorm Consulting (http://blackstormco.asia/) is a Singapore-based boutique growth consultancy firm that specialises in corporate strategy, profit management and investment management. We scale businesses in Southeast Asia.
Our clients and connections are internationally present and range from small and medium sized businesses, MNCs, to government agencies.