Software Market Feasibility Survey
The Challenge
A major international software provider wanted to explore growth opportunities in five new markets. To gauge market potential, it wanted to conduct a survey to get a complete picture of the regulatory environment and industries representing potential clients in each of the markets, and then analyze the results to generate go/ no-go decisions. As the targeted markets spanned three continents, the challenges included not only providing market analysis, but also in overcoming language and cultural barriers and conducting interviews across numerous time zones.
Our Approach
We leveraged our primary research expertise and multilingual capabilities to provide the client with evaluations of the five potential markets. Our research team began by conducting secondary research to better understand the software markets in each of the industries. Based upon our research, we identified companies to interview in each market, and we worked with the client to design an effective questionnaire targeting professionals in a number of relevant industries and fields. While the questionnaire was being finalized, we began creating interview teams for each market composed of natives from each targeted country possessing the necessary language skills and cultural background. We filled some of these positions internally, and leveraged our access to Shanghai and New York’s international talent bases to hire part-time interviewers to fill our resource gaps. After a two week survey period, our experienced analysts compiled and analyzed our findings to provide go/ no-go recommendations for each market.
Our Solution
Based upon SmithStreetSolutions’ insights, the client gained a better understanding of the five strategically important markets, and refined their market entry strategy to focus on those with the most potential.