Opportunity | In support of its strategic plan, a US-based not-for-profit professional association needed to grow profitably internationally to maintain their market leadership. Already serving professionals in more than 75 countries, the organization needed a consistent method for evaluating and investing in new markets.
Axiom’s Approach | In order to determine if and when to invest in developing a geographic market, the Axiom Consulting Partners team worked with senior leaders to develop and adopt a disciplined process that:
- Outlined the decision points in determining if and when to invest in a geographic market, represented by a series of five gates, requiring passage of one before moving on to the next.
- Conducted a new market entry assessment for markets using these five gates:
- There is a fit between the market needs and the organization’s capabilities;
- The barriers to entry are manageable;
- Prominent global companies are present in the market;
- The market has an existing base of current/prospective members;
- High economic growth expected in the market.
- Based upon these criteria and extensive research, identified two high-priority markets that currently pass all five gates, two medium-priority markets that are likely to pass all gates in the short term, and one low-priority market that is unlikely to pass all gates in the short term.