“Your first 50 right steps to enter the Russian food market”.
Step№ 4 – “Learn and research about your future competitors”
You must be well aware of the fact that you are not the first company that wants to enter the food market in Russia. Do you think it is your disadvantage? It is not! You are in a much better position than your competitors and let me explain why.
You can avoid a lot of mistakes made by others.
Those companies that entered the Russian market earlier did not know much about Russia and how to conduct business here. They spent a lot of money on marketing and promotion of their products in Russia. They made a lot of mistakes before they realized what kind of food products Russian customers would buy, how to properly promote those products, and how to do business in Russia.
I know dozens of stories that many foreign businessmen told me about spending millions of dollars to enter the food market in Russia and in 90% of cases they failed.
Their main problem was that all these companies were very self-confident. They thought that with money they would conquer the Russian market with their food products. However, it was not necessary to spend a million dollars, Only 7,000-8,000 dollars would be enough and the result would be 100 times better. You just have to do things right and trust professionals in Russia.
Turn others’ weaknesses into your strengths.
The first thing you need to do is to study your future competitors in the Russian food market.
Examine their shortcomings and mistakes in marketing, branding, and products themselves. Study the history of the development of their business in Russia, look at all their steps, analyze those that have not brought success and resulted in losses. Remember these mistakes and do avoid them.
Explore others’ strengths and use them yourself. Develop the strengths of your competitor food products and make your food products even better.
Do all that in advance, before entering the Russian food market. You will save a lot of money. In Russia, we say “what is saved is earned”.
Work only with food experts, not generic marketing agencies.
Another thing you should remember about is to involve food experts in your research. If you have not studied the food market of Russia in advance, it may be difficult to understand the situation immediately. So, you might need to look for assistance.
I do not recommend hiring generic marketing agencies because they are not experts in your specific product. For example, if you grow fish or mango, make sweets or frozen pizza, you should find a specialist in this specific product in Russia. A person who “lives” in this industry and knows all the rumors and gossips. An insider who knows what no marketing agency can find out for you. A person who will immediately understand what you really need and provide you with information that you will never find yourself.
If you are planning to sell your products in bulk, then look for such a specialist from the wholesale industry. If you plan to sell directly to Russian food chains, then look for a specialist from retail and so on. You can also hire an adviser, like me, who can connect you with experts from the area you need.
Use Russians’ kindness.
Russian people are very open and kind. They will tell you many things completely free. You do not need to offer money, it might offend them. A Russian person will be pleased to share their knowledge, but you need to be able to find such an expert and ask them for advice in a correct way. In the next steps I will be sharing how to find a good advisor, so keep on reading!
Business Adviser on Russian Food Market
Please read the same my other steps:Backward