Services:
Market Analysis
Every product’s success story begins with a proper market analysis. This method was born in marketing and has evolved into an important tool for distribution as well. The strategy evaluates several factors to predict the market potential.
Know-how isn’t enough for conducting a market analysis. Using a software powerful enough to organize and assess the collected data is just as important. Good news: at MiLung Trade, we provide you with both resources.
Market analysis with MiLung Trade: low expenses, high value
“Will my product be successful on the European market?” – this question haunts every importer sooner or later. Making vague assumptions to predict the market potential of your product would be disastrous. The risk of producing more units than you can sell is exponentially high.
A proper analysis of the market minimizes this risk. It uses data and estimated values to predict the expected demand. This is not only interesting, but also useful for you. The results of the analysis are a helpful tool for adjusting your business strategies.
These aspects are relevant for your
product's success in Europe
COMPETITION
• Who are the big players on the respective market?
• How large is their market share?
A sound examination of your biggest competitors is crucial for polishing your marketing and distribution strategy. When it comes to importing goods from Asia to Europe, two industries are highly competitive: fashion and electronics. However, this doesn’t mean that entering these markets is futile. By analyzing other businesses, you can identify niches and fill them first.
SELLING PRICES
• What prices are the consumers willing to pay for my product?
• What is the lowest price limit?
The market analysis predicts the selling prices that you can realize with your product. Your competitors are a huge factor in this, as price wars are a normality in some industries. If you enter these markets, you will have to be able to adjust to competitive prices. Markets with a huge potential and a small number of competitors are the right choice if you wish to reach higher selling prices.
IMPORT REGULATIONS
• Are there bans or restrictions for my import goods?
• Can I claim reductions?
Import regulations are a vital factor when it comes to the success of your product. Restrictions complicate the import process, and this can lead to unsatisfied customers due to long delivery times. Reductions, on the other hand, mean that the import of your product is possible at a discounted rate. The number of distributors for these goods will be high.
DISTRIBUTION CHANNEL
• Which distribution channel is optimal for this product?
This is determined by the behavior of your target audience and affects your cost accounting. The market analysis shows where your customers reside. Do they search for products on Google or do they prefer Amazon? Answering this question will help you adjust your distribution strategy accordingly.
We can conduct a professional market analysis for you
This topic can be extensive and requires specific knowledge. Our team of experts makes sure to make the process as seamless as possible. The product at hand doesn’t have to be new and innovative. We can gladly conduct a market analysis for established products so that you can conquer new market segments.