A major chartered surveyor business based in London approached Leading Edge to embark on a strategic project to explore international market opportunities. The aim was to gain a comprehensive understanding of global prospects to expand its business operations beyond the United Kingdom.
Research Objectives: Strategic Analysis for International Market Entry
The primary aim of this endeavour was to conduct an in-depth analysis of various international markets. This analysis was critical to making informed decisions about potential global expansion and identifying which markets offered the most viable opportunities for growth.
Methodology: Market Identification and Validation through Research
The initial phase involved identifying and ranking ten potential global markets, focusing on factors such as market size, growth potential, regulatory environment, and the competitive landscape. Following this, the team engaged in extensive telephone research to validate and enrich the initial market data. Additionally, in-depth interviews with key industry professionals in markets like the USA, Canada, Singapore, Germany, and France were conducted. These interviews provided valuable insights into customer preferences, local business practices, and competitive environments.
Strategic Development and Conclusion: Crafting a Global Expansion Strategy
The research concluded with a detailed overview of the global chartered surveyor market structure, including insights into competitive dynamics, market trends, supplier selection processes, and details in property purchase and rental behaviours. Making use of these insights, Leading Edge assisted the business to develop a tailored strategy for global expansion, addressing the unique characteristics and challenges of each target market. This comprehensive market assessment approach not only facilitated the identification of potential expansion markets but also provided the business with a strategic framework for successful international growth, underpinned by a deep understanding of the global market landscape.
