Taking a product or service into a target market and securing sustainable success requires meticulous preparation. Sam A. Jaoude, consultant and CEO of Madenlebanon LLC, based between the US and the Middle East, offers five essential steps that will give businesses a healthy head start in the breakthrough stage.

When it comes to exporting to a new market, there are several challenges to navigate and considerations to take on board throughout the inception-to-completion process, which usually takes between 12 and 24 months.

Five fundamental components are key to achieving success in this endeavor: thorough market research; product adaptation; efficient distribution channels; regulatory compliance; and a comprehensive marketing and promotion strategy. Each of these elements has a critical part to play in ensuring that a product or service can effectively penetrate and sustain itself in a new market.

1- Thorough market research: understanding a target market’s demographics, consumer preferences, regulatory landscape and competitive environment is essential. By conducting comprehensive research, exporters can identify opportunities, assess demand and develop effective strategies to penetrate the new market. Market research provides valuable insights into consumer behavior, buying patterns and potential barriers to entry. It allows businesses to tailor their offerings to meet the specific needs and expectations of the target audience. This research can involve surveys, focus groups, analysis of market trends and studying competitors’ strategies. The more detailed and accurate the market research, the better equipped a company will be to make informed decisions and mitigate risks.

2- Product adaptation: adapting products or services to meet the specific needs and preferences of the target market is crucial for success. This may involve modifying packaging, labeling or product features, or changing the overall brand image to align with local tastes, cultural norms or regulatory requirements. Packaging may need to be redesigned to appeal to local aesthetics or to provide information in the local language. Brands that demonstrate sensitivity to local culture and consumer preferences are more likely to gain acceptance and trust in the new market.

3- Efficient distribution channels: effective distribution ensures that products reach customers in the new market promptly and efficiently. This may involve forging partnerships with local distributors, wholesalers and retailers or leveraging online platforms to reach a wider audience. Distribution channels should be carefully selected based on the nature of the product and the target market’s buying habits. Building a robust distribution network can also involve negotiating terms, setting up supply chain logistics and ensuring the products are available where customers shop. Strong distribution channels enhance product accessibility and availability, which are critical for driving sales and customer satisfaction.

4- Regulatory compliance: understanding and adhering to a new market’s regulatory requirements and trade regulations is vital for smooth export operations. This includes compliance with customs procedures, import/export regulations, product standards, certifications and other legal obligations. Different countries have varying regulations relating to product safety, labeling, environmental standards and trade tariffs. Failure to comply with these regulations can result in delays, fines, or even bans on the product. Exporters need to keep updated about the regulatory environment of the target market and work closely with legal and compliance experts to ensure all requirements are met.

5- A comprehensive marketing and promotion strategy: creating awareness of a brand and products among the target audience is critical for generating interest and driving sales. This may involve a mix of advertising, digital marketing, public relations, participation in trade shows and other promotional activities tailored to the preferences and behavior of the target market. Effective marketing strategies help build brand recognition and credibility. A well-executed marketing plan ensures that the product stands out in a competitive market and attracts the target audience’s attention.

Bonus tip for exporting to new markets: teaming up with a food and beverage broker can help when it comes to penetrating new export markets, bringing valuable expertise and connections. The comprehensive support they offer can increase the chances of successful market entry.