IMIG USA: How to position your company in the US-market with sustainable success
Expand your business globally
It’s not just been a challenge for major corporations to seek new opportunities and to develop business globally. We, as IMIG, understand that in today’s rapid changes, your company’s flexibility and service level depends on meeting your customer’s expectation every time you do business. Sometimes that means to follows the moves of your clients. Whatever has been working on your home turf might be a different playbook elsewhere.
How do we know? We have been there!
Usually, such an endeavor takes a plan to grow, goal setting, market research, and strategies for entry of the desired market. With more than 20 years of history, IMIG has developed a substantial network of experts in all core markets around the globe to serve our clients where their business takes them. Not only were our standards distributed, but also local specifics monitored and incorporated.
As an example, IMIG helps a variety of Germany-based clients to develop and execute strategies to expand their businesses by entering a new market overseas in the United States.
One first small step IMIG was offering in this case was our entry program on how to position your company in the US-market. In a series of three workshops, we used a systematic approach to enable the management to make an educated decision on the company’s next move. This whole project typically covers a timespan of approximately four weeks.
In the first milestone meeting, we focused on the goals and set a strategic criteria grid accordingly. Based on these criteria, we came up with different scenarios on how to enter the market. There is always a variety of ways to enter a foreign market. The range might be between exporting and producing locally, between local sales representatives and selling directly.
As you know, typical options for market entry are:
- Direct exporting
- Joint Ventures
- Buying a Company
- Turnkey Projects
- Greenfield Investments
Not all market entry strategies will apply to an individual international market. Typically you may focus on three or four strategies and evaluate these selected scenarios on hand.
What are your chances? What barriers will you face? Not only to evaluate but also to weight and compare all set criteria against each scenario will provide transparency for an educated decision. Comparing our international references and extensive database is in no doubt a huge bonus.
In a second milestone meeting, we presented the evaluation grid for selected scenarios. Discussion of findings and patterns provided the basis for a mutual understanding of the taken path. Indications were cross-checked, and the impact verified. Additional specifications for further investigation or documentation might be included at this point.
Based on this meeting, we prepared for each desired scenario the specific documentation in the form of a management report. Our experts included a recommendation for a preferred scenario.
This report was handed over and explained in a third milestone meeting. All scenarios were evaluated by at the beginning agreed on criteria, and by weighting these, it was possible to pronounce important fields.
After providing the base for a management decision, we were able to support our client’s desired activities in all stages of the exciting endeavor of entering a new market overseas. According to our experience, such a new chapter has the potential to increase sales by 30% to more than 100%.
Now you are certainly getting curious to find out what your potential looks like…
Senior Consultant, IMIG USA
For additional information on IMIG, please contact us either by email: email@example.com or by phone at: +49 (0) 7152 / 928 460.