A Europe-based healthcare company operating in eight markets across the globe.
The client was aiming to enter the adult incontinence market and wanted to identify top three go-to markets (from a set of 15), including Japan, South Korea, and Malaysia. The client also wanted to develop a market entry plan and strategy for potential expansion.
SG Analytics implemented the following three-step approach:
Market profiling: Our team conducted a thorough primary and secondary research on the 15 potential goto markets, covering factors such as market landscape, market sizing, competitive analysis, key trends, product analysis, and pricing environment.
Market prioritization: The team developed a model based on a broad range of parameters such as macroeconomic indicators, demand/supply dynamics, along with certain additional parameters as specified by the client. We then conducted scenario analyses to shortlist the top three markets.
Market entry strategy: Our team performed a deep-dive analysis of the identified markets based on insights generated in the earlier stages. We recommended an initial market entry strategy which included modes of entry, pricing strategy, and channel distribution.
Our team provided an in-depth understanding of the target markets to ensure product relevance.
We ensured an efficient market entry by recommending a structured, actionable approach with defined milestones.