We do not need statistics to prove that one of the many reasons why newly established businesses fail is because they, first and foremost, do not understand their market. Venturing into unfamiliar markets involves more risks and uncertainties than that of what a businessman is comfortable with. However, there is no need to fret and get into panic attacks as sales and marketing consulting firms help businesses swim, not sink, on unknown waters.
The need for sales and marketing consulting firms is greatly evident among foreign businesses, who are trying to penetrate the Asian market. With the recent global financial crisis and a declining hegemon on the west, the far east has become more appealing than ever, especially with the rise of China as a great power in the region and as a huge potential market. However, foreign businessmen, with their knowledge and experience with the markets in the western part of the world, are totally impaired when it comes to dealing with the markets in the Asian region. Sales and marketing consulting firms become their eyes and ears as these firms collect and filter information that may prove to be crucial in the decision-making of businesses in establishing themselves here in Asia.
Sales consultants, for instance, do not only have the function of selling products and services to clients and companies but also have the function of understanding and identifying their needs. They serve as a guide in terms of what goods and services are really need by their clients. Being a sales consultant therefore goes beyond merely selling products and services. They ensure that the services and the goods being received by the company are necessary for it to grow and flourish in the market. However, to further accomplish this objective a sales consultant goes hand in hand with a marketing consultant.
Venturing into an unknown market requires a company to know their consumer and their behavior. This is where a marketing consultant comes in. A marketing consultant does the research for the company and tries to identify who their target consumers are and how they behave. Marketing consultants not only gathers information but they also try to understand what motivates consumers to, for example, purchase a product; and then create a specific strategy or approach, tailored to the needs and nature of the company, on how they should sell their products.
So, why do companies go to sales and marketing consulting firms exactly? Aside from the bottom line, these consulting firms help foreign companies in the Asian market by making sure that their resources will not go to waste, but instead be focused on opportunities that would bring greater returns and growth to the company. This will then prevent the company from incurring unnecessary losses. These firms also help foreign companies realize and gain advantage against competitors in the market. Lastly, sales and marketing consulting firms help develop employees and personnel in a company to acquire important skills. In a nut shell sales and marketing consulting firms provide business prescriptions that would help foreign companies become lean and mean business machines in Asia.