The company does not create or develop new brands.
Posted: Tue Jan 28, 2025 4:19 am
That is, the market knows you as a manufacturer and supplier of a certain product (goods, services). And potential customers do not even allow the thought that you can act in other directions. Not only supply, for example, equipment in the B2C sphere (everyone is sure that this is all you can do), but also work with a wider audience.
In this case, promoting a new brand, and creating it practically from scratch, will help to gain access to new markets. This is expensive, and not every company agrees to such steps. Meanwhile, you need to find courage and opportunities for such actions: the money invested pays off quickly, and the brand very soon begins to bring in profit.
Lack of information about the laws in force in other markets.
This is especially true when it comes to malta email list entering new foreign markets. For example, very specific labor laws may apply there, so you can recruit a team and start working only after carefully studying all the laws.
Again, all kinds of legal issues, such as paperwork, registration in another country, etc., require absolute literacy and compliance with all the subtleties.
And it’s better to entrust this part of the work to lawyers: you yourself most likely won’t figure it out in three weeks, and even if you do figure it out, it’s not a fact that you’ll understand everything and do it correctly.
Who Shouldn't Try to Enter a New Market
To summarize, we can draw the following conclusion: if you decide to enter new markets, then carefully study the situation in advance, find out what pitfalls there may be, and whether it makes sense to start at all. A new, unexplored market may have completely different, unfamiliar conditions, buyers, competitors, ideas about doing business, etc. You will have to spend money on research, trial launches. And, as always, it is a pity to waste money.
Moreover, it may be necessary to completely revise the marketing strategy, change the very approach to sales, retrain the staff and even make adjustments to the production process. Marketers, having conducted a thorough study of the new market, can set out completely new conditions and presentation, and proposals, and implementation of your product.
However, making a product as required by new conditions, separating brands, websites, making radical internal changes - not every business can do all this. And if a company cannot afford such transformations, then it is better to stay in its already developed market and find opportunities here (and they always exist) for further effective development.
In this case, promoting a new brand, and creating it practically from scratch, will help to gain access to new markets. This is expensive, and not every company agrees to such steps. Meanwhile, you need to find courage and opportunities for such actions: the money invested pays off quickly, and the brand very soon begins to bring in profit.
Lack of information about the laws in force in other markets.
This is especially true when it comes to malta email list entering new foreign markets. For example, very specific labor laws may apply there, so you can recruit a team and start working only after carefully studying all the laws.
Again, all kinds of legal issues, such as paperwork, registration in another country, etc., require absolute literacy and compliance with all the subtleties.
And it’s better to entrust this part of the work to lawyers: you yourself most likely won’t figure it out in three weeks, and even if you do figure it out, it’s not a fact that you’ll understand everything and do it correctly.
Who Shouldn't Try to Enter a New Market
To summarize, we can draw the following conclusion: if you decide to enter new markets, then carefully study the situation in advance, find out what pitfalls there may be, and whether it makes sense to start at all. A new, unexplored market may have completely different, unfamiliar conditions, buyers, competitors, ideas about doing business, etc. You will have to spend money on research, trial launches. And, as always, it is a pity to waste money.
Moreover, it may be necessary to completely revise the marketing strategy, change the very approach to sales, retrain the staff and even make adjustments to the production process. Marketers, having conducted a thorough study of the new market, can set out completely new conditions and presentation, and proposals, and implementation of your product.
However, making a product as required by new conditions, separating brands, websites, making radical internal changes - not every business can do all this. And if a company cannot afford such transformations, then it is better to stay in its already developed market and find opportunities here (and they always exist) for further effective development.