The rapidly growing economy provokes the interest of foreign investors and business owners. With India being one, a well-planned entry strategy for a comfortable start will redeem you of excessive challenges encountered during business set up in India.
What are market entry strategies?
- Market entry strategies are methods companies use to plan, distribute and deliver goods to international markets. The cost and level of a company's control over distribution can vary depending on the strategy it chooses. Companies usually choose a strategy based on the type of product they sell, the value of the product and whether shipping it requires special handling procedures. Companies may also consider their current competition and consumer needs.
- To select an effective strategy, companies align their budgets with their product considerations, which often improve their chances of increasing revenue.
- The three primary factors that affect a company's choice of international market entry strategy are:
Why are market entry strategies important?
- Market entry strategies are important because selling a product in an international market requires precise planning and maintenance processes. These strategies enable companies to stay organized before, during and after entering new markets.
- Since every company has its own goals for entering an international market, having the option to choose from various types of strategies can give a company the opportunity to find one that fits its needs.
- With a reliable support of the professionals who share an affinity with the Indian business environment, you will be able to kick start your business actualizing your vision. through a deep evaluation of market opportunity in the respective industry succeeds in developing a marketing strategy for the entry and establish a firm presence in India.
- For a terrific start of your business, we explore connections for real-time interaction with buyers, retailers, government bodies and industry associators. Mapping the industrial landscape, carving out potentialities for growth, developing an investment strategy based on the resources and capital impacting marketing opportunities in essential for developing a productive marketing strategy.
CA Rajput assists you in defining the right market by analyzing it from a profit and loss perspective and the targeted customer base. We combine the local market strategy amalgamating it with the treasure of our expertise for your organization to have access to new markets which ensures growth and productivity in the long run.
Apart from rendering insights into major business aspects and strategies, we help you set the right price for your products, draft an actionable plan for its distribution and marketing.
Choosing the right business partner is a crucial aspect of any business. We conduct hiring for your business partner and select the one whose goals and vision align with yours. We have helped companies successfully operate their business in India with all the implementation needs in India for a strong entry strategy.
Growth strategy allows companies to expand their business. Growth can be achieved by practices like adding new locations, investing in customer acquisition, or expanding a product line. A company's industry and target market influences which growth strategies it will choose.
There are methods companies use for implementing a successful growth strategy. Some of the most common growth strategies in business include:
- Market penetration
- Product development or diversification
For achieving significant growth in business, you need to replace the worn-out marketing strategies with the fresh ones based on the latest change in the marketing modules. Instead of spending hours pondering over to maximize sales, you need to develop a fresh business plan based on product innovation and market expansion.
- Keeping track of your competitor’s progress and new launches helps any business to modify its business strategy nailing in innovation and technology.
- The professionals will help you define a clear personalized growth plan undertaking the key indicators of the company which will shed light on the customer’s preferences and behavior and will help in a better understanding of the business.
- Creating a link between what you are marketing and what your customers actually want will invite reformations in the current marketing strategies and the fresh ones optimized with customer’s choices will help you create a firm stand in the market.
- By assessing the marketing opportunity, reforming product diversification strategy, and segmenting the market for finding the new possibilities and scope for greater insight as to how a company can establish a balance between current and potential markets.
We at CA Rajput assist you in forming a productive growth strategy considering all the major aspects of the market and root out the glitch encountered in the key indicators for ensuring the sustainability of the business on the fore. Launching a new product and ensuring its success demands an artistic strategical framework identifying the major product traits and aligning it perfectly with the customer’s requirement. Through effective growth strategies on supply chain and cost management, we ensure that business meets the desired goals and revenue.
What exactly is diversification?
When a company wants to grow, it employs a diversification strategy. It is the practise of introducing a new product into your supply chain to boost profits. Such products could be in a new industry segment that your company already operates in, which is known as business-level diversification. If you enter a new market, you will experience corporate-level diversification.
Diversification is a strategy that a company implements in order to increase profits and sales from expanding its product’s reach in the market. The trick lies in adding value to the organization by increasing its reach in the unrelated industries.
What are the different kinds of diversification strategies?
Diversification strategies are classified into three types that are commonly used today. They are as follows:
- Diversification by Concentration
- Vertical Diversification
- Diversification of Conglomerates
This however requires an unbreakable strategy along with allocating capital, managing investments, cutting costs, and managing portfolios. Strategic direction, corporate vision, and identifying potential necessary for the diversification strategy to work in favor is molded by the professionals like CA Rajput in a way to arrive at the addressable market and projecting financial growth under diverse scenarios.
What businesses employ a diversification strategy?
Diversification is used by businesses for three main reasons. As a result, companies that employ a diversification strategy are those that:
1. The need to reduce market risk
2. They must protect their company from competition.
3. They need to increase their profits and the variety of products they stock.
4. This, however, means that the types of businesses that use a diversification strategy are frequently under pressure. For example, suppose a new competitor is taking a portion of your business and you want to buy it.
How Diversification us
- Diversification helps in growing marketing share and achieve higher margins as compared to other products and shelter your business from the harsh impact of marketing Phenomenon. Before pursuing the diversification strategy, the companies should be clear of the main motive behind its implication whether they desire to grow by expanding their reach in related or unrelated business and at what stage they want their production to diversify.
- The diversification strategy helps in developing a report of the company’s reputation in the huge marketing base, financial situation, and its position in the market to the potential buyers.
- For achieving success through a product diversification strategy, a company needs to acquire new skills and knowledge in product development and in analyzing marketing behavior. Much needed exposure to new facilities and technologies surfaces risks on the fore with the market being unknown.
- CA Rajput by analyzing your products helps find promising markets with a diversification strategy tuning perfectly with the targeted marketing base and behavior. For balancing, strategy, and expansion of the product diversification strategy open new doors of opportunities and success.
- A company for closing business in India requires the regular filing of the income tax, annual return filing, and appointment of the Auditor for successfully running a business in India, failure in maintaining which can result in debarment from establishing another company.
- For winding up the company quickly, the fast track exit (FTE)move has been initiated which ensures closure of the company without much paperwork. By filing the application with the Registrar, you are almost done with the company closure process.
- The company under section 8 and has been inoperative for more than 1 year can apply for closure under the FTE scheme.
CA Rajput will help you complete the closure procedure by providing instant support regarding liquidity and statutory compliance. Tax and value-added tax investigations are conducted for permitting closure.
In closing strategy, the professionals like CA Rajput by ensuring all the documents are satisfactory enough to gain permission to shut down the office. For company closure, you require approval from the Board, No objection certificate, consent of the members and Affidavit, indemnity bond, and statement of Assets and Liabilities.
The form is required to be filled within the ROC office within 30 days from the date of signing the Statement of Assets and Liabilities as a part of the closing strategy. By filling out a simple form, you can request for the closing of business and we will draft the affidavit for the company’s closure which will be validated by your signature and our team will assist you in filing financial statements with MCA maintain that you operate your business effectively abroad.