Just as every living organism has a DNA that determines its characteristics and growth, every business has a code of requirements and methods for achieving revenue, profitability and growth. A business DNA should focus on customers, who are the lifeblood of every successful business. The result is higher levels of success and profitability even in the most competitive markets.
Before about 2010, companies could spend their way to success in consumer and business-to-business markets. There was a direct correlation between marketing dollars spent to company’s sales and ultimately their share of market. Brands that outspent their competitors in advertising and promotion tended to be #1 and #2 in most industries.
The decision to expand geographically is not one taken lightly by any company. When thinking about entering the USA market companies should make this decision with a great deal of research and pre-work. To our surprise, the majority do not. Companies that are successful in their local foreign markets believe that similar buying behaviors exist with US customers.
You wouldn’t take a road trip without a map, so why try to navigate your business in the USA without a detailed Market Map? Market Maps can help guide you through the competitive landscape and to better understand consumer demands and market dynamics. And Market Maps can help you locate opportunities and avoid problem area for penetrating & expanding in the USA.