Before entering in a new market, companies must analyze that. Market research and analysis are fundamental to start a path of commercial penetration in a given market. All addressed to the generation of success, aimed at find the best potential clients or distributors. Generally, the reason why companies do market analysis and research, is to enlarge their activity and increase profits. Scouting is the process of supporting organizational development, learning, improvement and innovation. This is achieved through systematic actionable knowledge. We can say that scouting is a knowledge doctrine expressing how an organization thinks about and uses information and knowledge.
There are two main purposes of scouting. The first is macro scouting. That is a multi-dimensional scanning aimed at identifying emergent elements that have future implications for an organization. These elements include issues like technologies, lifestyles and cultural trends and in addition, the potential relationships among these and reflecting on what might be developed from their interactions. Micro scouting focuses on discovering specific present and short-range trends, issues and information that will affect or contribute to firm’s visioning and continuous improvement.
The following points to be considered
Market analysis and research is fundamental to understand which the real and concrete possibilities for a company are. At the begin of the work it’s necessary to find as much information as possible and establish an initial network of contacts. To start a sales network, a good analysis must consider the following points:
- Size of the market referred to;
- Actual and future prices;
- Distribution channels;
- Potential future clients;
- Prospect clients and competitors.
Business scouting is not just about finding parties interested in doing business but means also looking for new high-potential market for the company value proposition and products. Just a market portfolio made of companies aligned with ours, could generate success and commercial improvement abroad. Is important to have the information about the macroeconomic scenario and the most relevant indicators in Europe, Italy and worldwide. Suggestions regarding the most appropriate territorial and strategic marketing strategies and advice on identifying and selecting the most efficient market entry strategies.