"The life of a typical entrant is nasty, brutish, and short." – Paul Geroski, London Business School.
Companies can boost their odds of success by tackling cognitive biases head-on. Market entry strategy is a useful tool for getting clarity on what you aim to achieve and how you are going to achieve it while entering a new market. Creating an effective strategy before entering the new market is one of the main questions that arise in the mind of an investor. In order to enter the market as comfortably as possible, simple, and with minimal risks, it is necessary to examine the target niche.
At the start of the options assessment process, a long list of options exists. This guide provides a process that involves narrowing down the list of options through a filtering process and provides a structured approach to performing the assessment of market entry selection. A phased approach is recommended to assess and narrow down options:
Stage 1: Strategic Assessment
Stage 2: Screening
Stage 3: Validation
Stage 4: Ranking and potential scenarios
Stage 5: Preferred scenarios for detailed qualification
This guide delves into the intricacies of emerging market selection, providing a comprehensive walkthrough using a practical example of location and market entry scenario. It addresses upstream and downstream challenges, offering additional factors for consideration. The PPT also highlights effectiveness opportunities and risks in emerging markets, ensuring you are well-prepared for potential pitfalls.
Key parameters such as historical data, national vs. regional analysis, and risk vs. benefit trade-offs are thoroughly examined. The guide emphasizes the importance of a phased approach, from strategic assessment to detailed qualification of preferred scenarios. It also includes practical advice and real-world examples to support your decision-making process.
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Source: Best Practices in Emerging Market Entry, Cognitive Bias, Market Entry PowerPoint Slides: Market Entry Assessment Guide PowerPoint (PPTX) Presentation Slide Deck, Corporate Finance 101
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