How to enter in a new market?

How to enter in a new market?

Dive deep into what makes your product “worthy”

  • Brand/Product Story
  • Market Knowledge
  • Value Building

BRAND/PRODUCT STORY

Having a Brand or Product story is crucial to introduce yourself within a new market. This shows the first impression of what you are going to show and why should the potential customer buy it. Often or not business (even my company’s products) do not have this and it doesn’t give a great good impression.

I often help business realize this and help them construct a video or a brief that solves this. Usually it’s more fun doing a video since there are a lot of things you can do outside of a 2D brief. The contents that I usually include is the following:

  • The Brand’s story (how and why the brand is established)
  • Showcase a problem
  • The brand’s solution (product or service)
  • Why this brand is different

These four bullet points are what I think are key pillars that helps construct a solid introduction of your brand’s story. This helps the potential customer feel and understand where your brand is coming from and why they should use your product or service!

Market Knowledge

Market Knowledge is what it is. How much and how deep do you understand the market that you are going to go in with your product/service?

It is better to understand the market first before entering in so that the business can understand what to expect and what things are great to have. [Project Zeta] has partner up with a firm that does 1st hand market research in which provides a lot of worthy information that can help your business to obtain a better stride when entering the unknown market.

Often or not, a lot of companies lack the this thinking and often fail to realize that all markets are unique and have their differences in value, product perception and how to send a message across. Just the other day [Project Zeta] has helped a Thai company to realize that their Thai strategy doesn’t work in Hong Kong. This is because the Thai company didn’t understand that importance of having a Brand/Product story along with having great local market knowledge. [Project Zeta] helped this company in guiding them on what to do along with helping them create a nice brand story that helps introduce them to new potential customers in Hong Kong.

All in all it is better to not use the mindset in doing business because each day and case is different!

Value Building

Of course by having both a brand/product story and market knowledge is key to entering an unknown market. Value building is the by product of both and also the last crucial step for this.

I often hear stories of companies failing to realize what to do after obtaining both the brand/product story and market knowledge. [Project Zeta] often helps by breaking down on the information and create a process on generating value from both the brand/product story and market knowledge.

This process may take some time but it is often the “step” where a company can observe hard results. Things like doing collaboration to opening up a pop up store to being a sponsor on an activity that align things perfectly for the company are just examples of this “value” being build.

In marketing terms: Building Presence and spreading the word out that there is this company that is offering a great product/service!

[Project Zeta] has helped a few companies to do this before and often or not would remind the client company that this process isn’t a one-two day deal. It’s something that the client company needs to continue to do and needs to change things up year after year.

If your company needs to do this then spend no more time hesitating and send [Project Zeta] a request in helping your business grow in a foreign market!


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