New Markets

Decisions on whether and how to enter new markets are sometimes based on limited information and thus take more risk than necessary. They are often driven by the need to generate growth, synergies, economies of scale and additional profit. When growth in current markets is not enough, in particular new regions, customers, products, applications are options. In this chapter we focus on regions, customers and applications whilst new products are covered in a separate chapter.

New Regions
- Distance
- Logistics
- Language
- Population
- Culture
- Market size
- Economic situation
New Customers
- Business to Business (B2B) vs. Business to Consumer (B2C)
- Manufacturers vs. distributors vs. end users
- Branded product vs. OEM
- Age groups for B2C
- Business size for B2B
New Applications
- Other industries entering the healthcare market
- Bridging from one discipline or desease to another, e.g. from orthopaedics to spine

CMC has experience in many international markets and client segments and keen to support your decisions in identifying your new market stategy. CMC further discusses options to enter the new market by gradual build up of market access, alliance and partnering or even mergers & acquisitions.

Example

An Asian client approached CMC to market its product in Europe. CMC advised on selection of the key products to promote, on the promotional materials and literature, the pricing policy, the market and competition and market size. CMC did initial research in the market situation and conducted strategy discussions with the client on various options to take. A decision was taken to approach all EU markets at the same time with a selection of regional partners for distribution for a branded product as well as manaufacturers for OEM supplies. Subsequently CMC supported in the selection and communication with the distributors and OEM clients.