services details
Product – Quality & development
The UK market, in some circumstances, regards the quality of the product or service higher than it does the price. This is more evident in a city like London where consumers are happier to part with their money in return for a quality product or service. A few things that you can do… Product adaptation to resonate in new landscape. The product/service being provided needs to be adapted to the specific market it is entering. This is particular whether it be changing the packaging, or the way the product or service is presented to the market all variables need to be considered in order for something to be a success in a new market. For example, the market needs in a traditional city like Manchester or Glasgow may be different to the needs in a cosmopolitan city like London. If you are a manufacturing company with a focus on B2C services, product packaging is imperative. This is the first tangible experience your customer will have with your product or service, and it needs to leave a lasting impression. Come out of the Ho Jaya ga (this will be done) delivery concept. It is vital that a top-quality service is provided. It really has to be second to none so that there is no doubt in the customer’s eyes that your product or service is a top of the range product or service. Is the UK market the best market for your product? The UK market is perhaps somewhat skeptical of products and services from outside the UK. The UK is very proud of products that come from their own shores. For example, a lot of big UK companies place huge emphasis on providing customers from call centre(s) based in the UK. We can also see this in other industries such as the food and drink market where British people are far more comfortable purchasing food products from Britain. The same goes for any new product, concept or idea that comes to the UK – British consumers will immediately stand them up next to the products that they are used to. That is why it is vitally important when entering the UK market to have a clear strategy for that chosen location. 1) Your product or service will need to be backed by some local partner who can help guide you in to the UK market. Having some local knowledge about the market you are entering can really make all the difference. There are many ways of doing this. One of which involves using UK-wide distributors. The distributor can purchase your exported goods or services directly from the manufacturer and sell them on to a third party, avoiding costly taxes. A distributor may have had complete coverage of the UK before Brexit negotiations took place. Their approach may have to be altered depending on the outcome. Distributors may look to do business on a more regional basis, setting up shop in Scotland, England, Wales and Northern Ireland. Companies wanting to use distributors as a means of getting their products and services into the market need to adhere to a strict set of guidelines set out by the EU. Ensuring that their practices remain transparent to the EU and their directives allows companies to provide their products and services to an expanded market. 2) Having a strong communication channel with a watertight process in place allows companies coming into the UK to set realistic and achievable goals with no over commitments. Having excellent presentation skills allows companies to show off their products or services in the right way. 3) Proof of concept- The reason being showing that you are ready to adapt and change your product, service and process in a new market allows you to grow as a company learning more about the markets you are entering. Being able to adapt or change your product, pricing, packaging, before you fully immerse yourself in the market. It is always advisable to do it the right way, however long that takes. 4) The international, digital marketplace – The UK has one of the largest presences in the world when it comes to online shopping, bettered only by China and the USA. Approximately 87% of the UK population said that they had bought something online in the last 12 months. The online marketplace is bigger than ever, and this is where many companies from all over the world are focusing their efforts, and rightly so. This is the best and effective ways of bringing companies looking to break an already crowded market to the forefront. Having an online presence is vitally important for companies who want to be part of one of the biggest markets in the world. 5) The indomitable size of the EU market makes it the most important trading arena in the world. No wonder companies from far and wide are looking to break into it and get their slice of the action. The effect of Brexit on the EU trading block remains to be seen but it is still a market that is well worth companies investing their time and effort into. Pakistani companies wishing to take a slice of the EU market must lay the groundwork and be willing to create positive relationships within the countries and regions they are hoping to do business. Successfully laying the groundwork will allow businesses to create lasting relationships where businesses can essentially get their foot in the door to a lucrative and formidable market.