Emerging markets are full of opportunities and problems to be solved, but knowing where to start in a new market can seem daunting.
There are hidden power players, flexibility among rules and regulations, lack of market data, and limited technology/partners to build a business model off of. Entering a market without the knowledge of how it operates currently increases the risk of failing within an oversaturated market or offering a new service/product that lacks demand or distribution.
This is where market mapping comes in.
Market mapping is a valuable tool that examines a specific ecosystem and visually delineates (plots on a map) specific areas/categories to illuminate players, trends, and established networks within the ecosystem.
With a mapping, investors can identify experts for local due diligence, expanding businesses can identify distribution pathways, market development organizations can identify key partners, and more. Market mapping is one tool used to begin to form a market entry or market development strategy.
Check out our recent sample mapping where we showcased incubators, government-funded programs, non-profits, and foreign-funded programs globally (with a focus on Africa). Reach out to learn more about how market mapping can accelerate your goals in emerging markets.