Entering Iran’s Market; The value in Monitoring Iran's Media
The level of interest in doing business in Iran is on the rise within the international business community. The positive effects of lifting economic sanctions (which were previously imposed on Iran, and subsequently, its major business partners) are many, and one of them is that foreign businesses are again able to enter Iran’s market and benefit from the potentials of this country.
Iran’s consumer market of about 80 million people, its young and educated workforce, the country’s strategic location, and the political stability it offers within an ever turbulent region, are the main attractions of doing business in Iran.
Perhaps the first thing you will need before deciding whether or not Iran is the right market for your business is to find out about the shape of your industry in Iran. Monitoring Iran’s media can help you create a better Market Entry Strategy by showing you who your potential consumers and rivals are, the market’s expectations and values, benchmarks, risks, and its untapped corners.
At NewsBase, we offer market entry media monitoring services specifically crafted for this purpose.
We research and gather all the information you need to:
1. Improve your understanding of Iran’s market,
2. Study your industry’s potentials in Iran
3. Study your rivals and evaluate the competition
4. Understand and analyze the potential risks and learn from your future rivals’ past mistakes
5. Get to know your potential future consumers, learn about their expectations, their needs, and get ready to meet them,
6. Identify the bargaining power of your consumers, policy makers, and other industry players
7. Look for partnership, merger or acquisition opportunities, if you will, and
8. Observe industry benchmarks and see what YOU can add to Iran’s market that makes your brand unique in this country.
Perfecting your market entry strategy involves a lot of effort. There is a whole checklist of to-dos and steps to be taken. Nevertheless, a major part of planning for entering any market is dedicated to market research, and Media Monitoring can contribute to that with valuable inputs and analytics.