Blog Category: Market Entry
Will My Brand Translate? 10 Factors to Consider When Entering a New Market
When expanding your business internationally and moving into a new country or territory for the first time, it is vital to consider whether your brand translates well into the new market. Cultural differences, a symbol, colour or strapline that works well in your home country may have very different meanings in another and may even cause a market entry fail. Using well known brands as examples we consider 10 key factors that caused problems because some aspect of their brand did not translate.
Expanding to New Markets: 5 Common Mistakes in Market Entry
In the world of International Market Expansion a lot of market entry initiatives fail due to execution of the strategy, or even due to the lack of a strategy in the first place. We've outlined five common mistakes that cause companies to give up completely, retreat, require more money than planned, or need more investment of resources to make it work.
Planning your Market Entry
All too often companies jump into a new market without thinking through all the implications, so it's no wonder that 4 out of 5 companies fail when entering a new market, a figure that's even higher for SMEs. Many companies fail due to a lack of understanding about the new market and many key questions should be thoroughly considered to ensure the best chances of success. Here we discuss what a Go-To-Market plan actually looks like.
