Asian Market Entry Strategy for an Internet Appliance Start-up
A start-up designer of Internet appliances based in North America engaged Axonus to advise it on an Asian product and market entry strategy for future expansion. Leveraging its extensive experience, expertise and network across Asia, Axonus developed a strategic plan that included the following:
- An overview of the business environment and practices in each Asian market.
- Research into the structure, size, unique characteristics and legal / regulatory framework of each Asian market.
- Analysis of the modus of market entry appropriate to each Asian market - options including wholly-owned operations, joint-ventures and master licensing.
- Prioritizing the order of entry into each Asian market by evaluating its attractiveness in terms of its accessibility and "show-caseability" based on a number of factors - including size, location, legal and regulatory framework, and language barriers.
- Top-line implementation timeline and budget.
The nature of the client's business model required Axonus to focus on aligning the interests of three distinct but sometimes connected constituencies, one of which is dominated by state-controlled companies in most Asian jurisdictions. This situation was markedly different to that experienced by the client within its home market, and called for creative strategies unique to Asian markets.
The client went on to incorporate the strategy into a more comprehensive business plan in order to attract investors, and is now poised to implement the strategy.