Hainan market entry report is one business solution provide by Tannet, which aims at easing the reducing the risks foreign investors may face when doing business in Hainan. With Boao Asia Forum held in Hainan in the first half of this year, this tropical island in southern China becomes a hot investment destination. The central and local government have launched a number of preferential measures and incentives to attract investment both from home and abroad. For those who are new to Chinese market, it is wise to conduct a market study before establishing a business.
Developing a market-entry strategy involves a thorough analysis of potential competitors and possible customers. Some of the relevant factors that are important in deciding the viability of entry into a particular market include trade barriers, localized knowledge, price localization, competition, and export subsidies.
What Will be Included in the Market Entry Report?
1. Market/industry Assessment
(1) Identify exactly what the product or service is;
(2) Size/sales/revenues, in currency and/or units;
(3) Growth trends or forecast;
(4) Market drivers like consumer demand and government policy;
(5) Barriers to entry.
2. Major Competitors
(1) Sales/revenues;
(2) Market ranking;
(3) Emerging competitors (niche, target customer, value proposition);
(4) Joint ventures and alliances;
(5) SWOT analysis;
(6) Strategy, as related to targeted customers or industries;
(7) Organizational structure.
3. Products or Services
(1) Segmented by industry or competitors;
(2) Best-selling products;
(3) Fastest growing or shrinking products;
(4) Alternative uses.
4. Target customers
Target consumer is defined as the specific group of consumers who are the focus of a company's advertisements. It is important to understand your target consumer, and the following criteria can act as a guide:
(1) Your product or service has the ability to be preferred by the customer;
(2) Your product or service contains an attribute they desire;
(3) The target consumer has buying power and can provide you with sales and profits;
(4) The target consumer has an unmet desire that your product or service can fulfill.
5. Distribution channels
A distribution channel is a chain of businesses or intermediaries through which a good or service passes until it reaches the end consumer. It can include wholesalers, retailers, distributors and even the internet.
6. Advertising
Advertising, also refers to as advertisement, is a form of marketing communication which promote or sell a product, service or idea. Advertising can be communicated through various mass media, including (1) traditional media such as newspapers, magazines, television, radio, outdoor advertising or direct mail; and (2) new media such as search results, blogs, social media, websites or text messages.
While some companies prefer to develop their own their market entry plans, other outsource to specialized companies. The knowledge of the local or target market by those specialized companies can mitigate trade risk. Tannet’s professional team is provide tailor-made market entry solutions according to your specific requirements.
Contact Us
If you have further inquires, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s website english.tannet-group.com, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143422, or emailing to tannet-solution@hotmail.com. You are also welcome to visit our office situated in 16/F, Taiyangdao Bldg 2020, Dongmen Rd South, Luohu, Shenzhen, China.
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