UAE Market – it is the prospective market of most of the international traders, investors, or foreign businessperson. Due to the large population, enthralling re-export activities, sizable revenue generation, highest standard of living, and increased influx of the tourists, UAE tends to be the largest and prospective market for the people. To be more specific, Dubai is regarded as the trade hub and commercial centre of the UAE due to the efficient infrastructure, provision of different employment opportunities and a variety of business opportunities offered by it. Do you desire to enter into the diverse market of the UAE? Here are the 5 beneficial tips for you to enter the UAE markets and regional markets efficiently:
- Identify the opportunities:
You must choose the right route which lands you directly into the market. Generally, there are 3 ways of getting in there namely having a physical appearance, conducting direct export or availing the assistance of agents. Conducting direct export isn’t considered a suitable option if you aspire to deeply establish yourself. However, you can potentially find the local sponsor or engage an agent for the success of your establishment. Lastly, the establishment of physical presence requires setting up of branch offices or Liability Company. As far as the branch is concerned, it requires a national agent, whereas, the company should be approximately 51% owned by the UAE nationals.
- Understand the feasibility:
A feasibility analysis is to evaluate the worth of the product and its effectiveness in fulfillment of the organizational objectives by considering the different factors. Whether it is a business proposal or a product which you’re thinking to execute, the feasibility study helps an organization in determining the viability and the long-term benefits. The feasibility analysis is time-consuming as well as requires many resources. However, the consequences of not conducting the analysis can potentially bring substantial losses and harm to your business in the future. This analysis is given immense importance in the highly competitive market such as Dubai.
- Determine the competition:
Being the regional trade hub, Dubai, as well as the UAE market, tends to support the international business activity effectively. In such a competitive phase of the market, the new entrant firms are likely to face a fierce multi-national competition. Therefore, it is crucial for the firms to analyze the competitors in order to strategist accordingly. One of the efficient ways of dealing with the inexpensive foreign programs is to integrate the technology in your company.
- Establish the brand positioning:
The establishment of a clear and effective position in the marketplace is essential for your business. Your goal should be to create a long-lasting impression on the minds of the customers in order to make your brand distinguishable from the other competitors of the marketplace. For establishing the brand positioning, you’re required to follow these simple steps in sequence:
- Identify the current position of your brand
- Determine the competitors
- Analyze the branding strategies used by other competitors
- Make a comparison between your brand and competitors
- Think of an innovative positioning idea
- Create a brand positioning statement
- Test the efficiency of the statement
- Analyze the market:
Without effective understanding of the market and its potential competitors, entering the new market is extremely risky for the growth of your business. Understanding the market through the market research might persuade you to change the market; however, it can save you from the harm of lagging behind. The market research consists of the steps of collecting and analyzing the information gained about the market. There are three ways to conduct market research namely by using existing information, gathering information using surveys or acquiring the help of external organizations for conducting research.
Apart from making a successful entry in the UAE market, if you aspire to become a part of the variety of employment opportunities offered in Dubai, you can easily apply for them. Aren’t you satisfied with your current resume? You can easily acquire the help of professional CV writers in Dubai. These expert CV writers have the top-notch skills to polish your CV in the most affordable rates. Sit back and relax!