THE IMPORTANCE OF MARKET RESEARCH

The question “Are you ready for Asia” is the business card of the Next Challenge Asia project. The choice is intentional – we know that the Japanese, South Korean, and Chinese markets are rich in opportunities, not only because of their size, but also because of the economic growth they have experienced in recent years that has led to changes in consumer trends, such as a growing demand for value-added products. Nevertheless, all these possibilities present themselves with challenging indicators that are fundamental to know when we are outlining a successful internationalization project, especially when we are talking about markets with which we have a large cultural distance.

The Market Research launched by the Next Challenge Asia project are intended to be a tool to support the initial phase of an internationalization project or, in the case of companies already exporting to these markets, to strengthen knowledge about market characteristics, key indicators, opportunities and constraints, through macroeconomic and sector analysis and also to characterize the business culture.

Each document was developed from the perspective of the Agro-Food, Home, and Building Materials and Infrastructure (Water and Energy) sectors, highlighting sector trends as well as other generally useful information.

In terms of organization of information, they make a framework of the economic reality in Asian markets, followed by a characterization of each sector in each of the target markets (value, weight in imports, etc.) and then a Strategic Analysis of the sector in each market (International Context, Market Size, Trends, Key Players and Business Partners and Legislation for Market Access and Business Creation).

After the detailed sectorial analysis, the Studies focus on the bilateral relations of each market with Portugal, particularities of the Business Culture in each country, outline Internationalization Strategies, present a Benchmarking Study, and further clarify the role that the Recovery and Resilience Plan (RRP) can play in encouraging the internationalization of the Portuguese business fabric.

In this way, Market Studies aims to support the largest number of Portuguese companies in the first phase of their internationalization process.

You can download the Market Studies for free.