A market entry assessment is a document which outlines the manner in which a business move or an initiative must be introduced. It is a document which is created though extensive research and surveys conducted by consultants, including a thorough understanding of the forces determining how the new entrant shall fare, and is usually prepared by a team of market analysts before the launch actually takes place.
Sample Market Entry Assessment
The following is an extract from the Market Entry Assessment Report published by JP Sons Pvt. Ltd. for the client Afghani [a super speciality, Michelin-starred restaurant] regarding its entry into the instant and packaged food market. This report was published in 2004, and is here reproduced with due permission from the publishers. The report must be studied and analysed as part of our internal review.
Purpose of the Market Entry Assessment Report:
- To calculate the brand value of Afghani [consisting for the flagship outlet at New Jersey and two other outlets around the Bay area] and whether that shall successfully adapt itself to being transferred to a different medium, and a different market.
- To determine the basic economical questions like the pricing of the products, their brand value, visibility, distribution and so on.
- To determine advertisement and publicity policy, pre-release strategies and so on.
Team compiling the Market Entry Assessment: Jason Wu, Lisa Rogers and Mimi Jakobson.
Conclusions reached by the Market Entry Assessment Panel:
- Afghani must hit the stores with their first range of Middle Eastern sauces, condiments and other cooking ingredients only by June 2003.
- The brand should ensure that the brand equity earned by the restaurant is an integral part of the success of the newer items.
- Market trends must be studied for over a period of time before the launch can be successfully completed.