#1 Market entry stages by BalticLegal 16.01.2023 23:04

Market entry is a multi-faceted process, and a successful market entry strategy should address all of them.

First, there is market research. Our team analyzes the business environment of a potential foreign market to identify opportunities, benefits and risks. It is supplemented by the business analysis, in which the data about the company is researched. By combining these two processes, we gain a comprehensive understanding of what the company can expect in each market and what the company's advantages are in each case.

The development of the market entry strategy is then continued through the choice of location for international expansion. The location can be limited as required, from the region to a district. Sometimes it doesn't make much difference whether the company offers more or less common services and/or products. However, if it is a very specialized company, the right choice of location is crucial for the success of the market entry.

The final stage of market entry strategy development (but not the end of the market entry process!) is a market visit, which allows the company representative to visit the target market, network, explore the business environment and help with our, making changes to the initial market entry plan to do.

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