Market entry framework in consulting refers to a structured and analytical approach used by consulting firms to help companies assess and enter new markets. The framework provides a roadmap for companies to evaluate the feasibility and potential of entering a new market and identifies the risks and opportunities associated with doing so.
The market entry framework typically involves the following steps:
Market analysis: This involves researching and gathering information about the new market, including its size, growth potential, competition, regulatory environment, and customer preferences.
Opportunity assessment: Based on the market analysis, the consulting firm will identify potential market opportunities and evaluate their attractiveness and feasibility.
Go-to-market strategy: This involves developing a plan for entering the market, including identifying target customers, pricing strategies, distribution channels, and marketing tactics.
Risk assessment: The consulting firm will identify and evaluate the potential risks associated with entering the new market, including regulatory and legal risks, financial risks, and operational risks.
Implementation plan: Finally, the consulting firm will develop an implementation plan that outlines the steps needed to execute the go-to-market strategy and mitigate any risks identified. This may include resource allocation, budgeting, and timelines for implementation.
Monitoring and evaluation: Once the implementation plan is executed, the consulting firm will monitor the results of the market entry and evaluate its success. This may involve tracking sales performance, customer feedback, and competitive activity to identify areas of improvement and adjust the strategy as needed.
Market entry framework consulting provides companies with a structured and rigorous approach to evaluating and entering new markets. By following a systematic process, companies can minimize risks and optimize their chances of success in new markets. Consulting firms use their expertise, knowledge, and experience to help clients navigate the complexities of market entry, and to develop and implement effective go-to-market strategies that meet their unique needs and goals.
Recommendation: Based on our analysis, we recommend that the client enters/ does not enter the relevant market because…..
A. ….. market attractiveness
B. ….. financial feasibility
C. ….. operational feasibility
D. ….. strategic feasibility
We should do this by (how to enter)
By Siddharth Dalmia
The StartUp Sherpa