Businesses look to international expansion for a multitude of reasons - higher profits, lower costs, acquisition of assets and diversifying cost and profit bases amongst them.

However, having a complete understanding of the company’s ability to expand is crucial before undertaking such a plan. What are the company’s motivations? Are processes to cope with the expansion in place? What is the final goal?

AJ International will help our clients answer these questions, research, analyse and customise a comprehensive market entry strategy.

Strategic Planning: Questions
For any successful market entry strategy, there is a range of questions that are to be answered. Pertinent questions to ask include the following below:
Localisation
Is there a need for the product to be localised? Should it be modified to cater to local tastes and preferences? Alternatively, are entirely new products needed? Or is it merely selling the same product in a new market?
Awareness
What is the current awareness of the category of product, the product itself and its brand?
Location
Where is the best gateway into the country? Do major cities offer the best starting point? Would a nationwide strategy be sufficient? Would a pilot project in a few locations be a better choice to start?
Timing
While a “first-mover advantage” allows the company to set the rules of the market and build brand loyalty, it could potentially be, however, a high cost, high-risk strategy. Entering the market later may allow the company to imitate and improve on incumbents, gain a better understanding of the market and find a niche to operate within.
Knowledge

As the saying goes, knowledge is power. Market entry requires a thorough and accurate analysis of the market, and ensuring that the risk tolerance and goals of the company are in line with the proposed strategy. Realities on the ground change quickly in this fast-paced and volatile business and regulatory environment; for an international business to stay ahead of the local and global competition choosing the right partner is crucial. As such, companies seeking to establish a foothold in Southeast Asian markets must define their competitive position based on a deep understanding of the local markets.

AJ International, with a network of professionals across the region, is therefore, perfectly positioned to help clients navigate the unique complexities of each distinct market that has vastly different business practices and cultures. Our team of experts have local language capabilities and in-depth market access and insights across key markets in the region to empower our client’s decision-making process.

AJ International has a proven track record in providing market entry advisory in Singapore and Southeast Asia – we have previously partnered finance, mining, trading, shipping and logistic firms to expand into a new market, helping them overcome local business and regulatory challenges to create substantial value to their business.

Contact one of our expert consultants to find out more about our market entry advisory services into Singapore and Southeast Asia today.