POSITIONING PRODUCTS FOR PROFIT
We pressure-test your products—and local operations—so both work in-market, not just on a slide deck.
Why LatAm Product Adaptation Research Matters
Most new products launched in Latin America were first designed for markets outside of the region (e.g. USA, Japan, Korea, Western Europe), such that the process is better described as product adaptation versus product development.
We have learned through our clients that success elsewhere is no guarantee that your product or service will perform well in even one, let alone all LAC markets.
Here’s why:
- Global customer pain points may not be the same as LAC customer pain points
- What motivates Mexican shoppers may be irrelevant to Chilean shoppers
- Well-positioned local competitors often better navigate regulatory complications that you find frustrating and costly to overcome
- Grey or black-market competitors begin from a 15-30% pricing advantage that even a well-designed product may not overcome
- The wrong local distribution or service partner could overpromise and underdeliver, hurting your prospects
- Volatile currency shifts and longer credit terms (extended to importer-distributors) can quickly shrink sales margins.
These challenges highlight the fact that thorough product adaptation goes well beyond tinkering with the look and feel of your product or service.
Setting You up for Success
While we can’t guarantee the financial success of your product launch, we can certainly reduce the risk of product launch failure, by assisting you with:
- A competitor landscape study to identify both formal and informal rivals, their pricing, business models and competitive advantages
- Barrier-to-adoption studies that highlight roadblocks between your products and your target customers in specific markets
- Customer research for your target markets to see if target customers find your product as appealing as those in the original markets you launched in
- Pricing studies that factor in VAT, import duties, and competitor product price points to ensure you’re aligned with what each market is willing to pay
- Partner/distributor studies to separate the standouts from the sub-par and find you the one that will best deliver your band
- Regulatory due diligence to ensure no sudden problems crop up pre- or post-launch
But our research won’t just point out potential problems.
Our market analysis will offer solutions to fine-tune your product, select the right partner, and exploit market gaps.
This could make the difference between soaring and sputtering.
