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Joint market assessment

  • Published 25/08/2014
How does your product fit into the market? The Joint market assessment tools map the market potential for your product and help you create a go-to-market strategy with your local partner.

 

"I don’t need to know much about the local market. That’s what I have a local partner for." This sentiment summarizes responses from many Nordic companies and makes sense; there would be no reason to use local distributors if you had time and resources for in-depth market knowledge and presence. This being said, market penetration depends on how your product is positioned and whether your partners have the right support and sales tools to succeed. Working with your partners on these issues requires a basic market understanding. In addition, taking an interest in market dynamics signals that you prioritize your partner’s market and want to collaborate to succeed.

 

The Joint market assessment tools are designed to increase your understanding of the market through discussions with your local supplier. The idea is to use the meetings and dialogue you already have with your partner, but spend more time discussing the market and developing a strong common understanding of your product’s value proposition in the market. The end goal is to develop a solid go-to-market strategy together. In addition, collaboration between visits becomes easier when you have a common understanding. 

 

 

 

"When I discussed the value chain in detail with my partner I suddenly understood the markups and number of sub-dealers. We agreed to sell the product in a different way to reduce the price point. We also discussed the product’s value proposition. As a result we made some very simple calculations on costs savings he can use as marketing material"

Nordic company