Vietnam Market Analysis
A Market Analysis starts with a desk study and interviews to understand the environment your product will face in Vietnam. We are concentrating solely in to your product, not in to an industry alone. That is why the word Market Analysis is a little misguiding, we should more speak about Business Opportunity Analysis as after all, you try to sell something. The data we collect is about your product, made for you.
We will look at possible customers and competitive products available locally. The business practises are an important factor for you as newcomer. You can either follow the same patterns which exist or develop a new innovative way of doing things. When in Vietnam, you will in one way or other be involved with authorities and regulations.
It will be good to know how to adjust your product to be legal and accepted, as well if there are any trade barriers slowing your market entry. We will go through customs data, discuss with opinion leaders, specialists and other knowledgeable persons, all this to get a first impression of the market potential you have in Vietnam. In the end, we will collect or data in to reports and workshop it through with you and your team, locally or by teleconference.
Vietnam Market Entry Strategy
But it not stops here, if the market is lucrative and you decide to go to next step and start to invest for the market entry, a good Market Entry Strategy is needed. Based on the fresh Business Opportunity Analysis, we will develop the strategy which would lead to best results with a minimum of costs. The strategy includes ie. product localization if needed, best market segments, testing each potential entry mode option, their advantages and disadvantages from your business point of view. The result of this exercise is a clear process to follow, a market specific entry strategy based on the chosen entry mode. Typical option for SME companies is the distribution model where local representative keeps inventories and acts as your salesforce. Of cause, some companies prefer to do the sales themselves, locally or from distance, especially in case of complex services.
Partners are easy to find, the challenge is to find an efficient partner.
Forget random contacts met on exhibitions, recommended companies by people who do not know your needs or in worst case franchise-collectors who only want your sole representation in case somebody would like to buy your products. A good Partner makes proactive sales and has the capacity for long term work. Once again, based on the previous Business Opportunity Analysis, we know the major players in the market.
From those, and maybe some additional companies, we will select with a jointly created criteria the shortlisted companies. Those ones we will meet, interview, analyse and benchmark. We finalize the exercise with a report and workshop where we select the best ones to be jointly visited. You will save time and money by selecting the right Partner from the beginning, your product will be also earlier in the market and revenues will flow faster.