Market Entry is a critical component in strategizing which involves a great deal of market research in addition to target customers. Therefore, you'll want to develop an in-depth understanding of market growth rates, forecasted demand, competitors, and potential barriers to entry.
For companies entering into foreign markets, the most important part is to make sure you do your diligence on the various market entry options available. Getting off on the right foot is critical, in most cases, you only have one chance to get it right.
Based on the size of your requirements, complexity, brand recognition, stakeholders desires, and appetite for risk, many options prevail. In terms of market entry, a partial list of options include:
Today’s trend for some large corporations that have had prior positive outsourced or 3rd party relationships is now moving to Captive operations or Global in-house Contact Centers (GICC’s). These include companies such as Capital One, Wells Fargo, AMEX, Deutsche Bank, Telstra, DELL, to name a few.
An even bigger trend today are multi-national organizations setting up Share Service Centers. Companies, like Nestle, Shell, Chevron, Goodyear, Bayer, P&G, HP, Phillip Morris, Samsung, Mondelez, and countless others.
Let’s take a quick review of some of the pros & cons of each option and driving factors for pursuing various options.
used by both Corporations and Outsource Providers
Also Read: The Largest Data Center Projects of 2016 and Some Future Projections for 2017
Selecting your market entry strategy is often times based on Risk and Investment Tolerance as illustrated in the diagram below.
The table below shows the approximate time to get started once the contract to get started is finalized.
Below are a few of the benefits if you are considering to establish operations in the Philippines.
Regardless of your approach for market entry, the best advice is to seek out local market expertise. Whether it is site selection, assessing tax incentives or pursuing the right outsource partner to name a few. Selecting the right subject matter expert to guide you will help mitigate risk and save both time and financial resources.
TeleDevelopment Services has a deep understanding of the laws, regulations, financial, and reporting requirements of different countries where its customers do business. It is equipped with the best knowledge and expertise to help you achieve your business goals.
Whether you are an IT-BPM Company beginning to enter new markets, or an existing organization searching for the best talents, to enhance execution of your manpower or the entire operations to go for proficiency, augment profitability, and to jump in front of the opposition, TeleDevelopment Services (TDS) can work hand-in-hand with you in taking your business to the next level.
About TDS Global Solutions (formerly TeleDevelopment Services Inc.)
TDS has established key partnerships with organizations to serve and stimulate growth in the IT-BPM industry. It has spent decades providing outsourcing solutions, management consulting services, talent assessments, executive recruitment, and vendor selection & management for crucial departments of call center operations. For more info, please email TDS at email@example.com or dial US number (1-888) 788-4441.