The development of a strategic entry plan, and subsequent business plan, is critical for designing the pathway for a successful market entry. The supporting market analysis provides the essential information to determine a realistic market position to strive for as well as pricing and probable margins. Success in achieving these objectives will be highly dependent on a well thought out strategy.

The first element of the plan will be to decide on the methodology of the entry. Should a representative office or regular corporation be formed? Is a joint venture with a Chinese company a good option? Are sales to be conducted through agents and their distributors or through a client contracted distribution network? Are direct sales a viable option? When, or should, local manufacturing or assembly be established? The answers to these questions will be the foundation of the strategy.

In addition to the primary strategy will be specific sales elements regarding pricing, product modifications and other factors to provide the necessary edge for customer acceptance. It should be noted that this is not a one-time process. Constant attention will need to be paid to new technologies entering the market, changes in government policies as well as alterations in competitors’ strategies.

PIM can provide support for creating all of the elements of a strategic plan inclusive of ongoing market analysis to assure client management of being current with market trends and developments