Definition of a market development consultant

European Market Link’s Definition of a Market Development Consultant

A European Market Link consultant is a highly trained professional who uses best-practice and proven methodologies, tailored to the particular client’s need, to help the client achieve their sales and market development goals in Europe.

A European Market Link consultants can engage, train, support or replace European distribution or employees.  Our diverse collection of international business, distribution strategy, market research plus industrial sales, translations, and even training resources offer the skills you need when and where you need them.  Consultations are free.  We understand that your needs change and so can our services.  We may be hired just like any other contractor or contracting agency on a flexible project, hourly or daily basis.

Unlike many large consulting companies, we don’t layer our fees, you pay for only the type of person or people that you need at any one time.   It’s easy.  It’s fair.

Below are definitions of consulting and market development for your reference.

 

Definition of Consultant

The following definition came from Wikipedia on 18 July 2011:

A consultant (from Latin: consultare “to discuss”) is a professional who provides professional or expert advice[1] in a particular area such as managementaccountancy, the environment, entertainment, etc.

A consultant is usually an expert or a professional in a specific field and has a wide knowledge of the subject matter.[2] A consultant usually works for a consultancy firm or is self-employed, and engages with multiple and changing clients. Thus, clients have access to deeper levels of expertise than would be feasible for them to retain in-house, and may purchase only as much service from the outside consultant as desired.

 

Ways in which consultants work
Some consultants are employed by a consult staffing company, a company that provides consultants to clients. This is particularly common in the technology sector. Consultants are often called contractors in the technology sector in reference to their employment contract.

Strategy consultants are common in upper management in many industries. There are also independent consultants who act as interim executives with decision-making power under corporate policies or statutes. They may sit on specially constituted boards or committees.

Consultants work at client places on behalf of a consultancy or billing company.

Some consultants are individuals hired by companies to do work for them on a contractual basis. They are not employees of the company hired to do a specific work. They are expected to do their job ethically and responsibly with minimum supervision.

 

Market entry consultants…
provide consultancy services to private companies, corporations or government/non-profit organizations for solving various business problems related to commencing sales/manufacturing/outsourcing operations in a new market/geographical territory[1]. This includes, but is not limited to services like:

  • Consulting an organization about suitability/demand of their products/services in the new market/geography of interest.
  • Market Potential, Growth, Competition, Market Share Analysis and other Market Research activities.
  • Preparation of Business Strategy, Business Plan; Carrying out Cost-Benefit & Risk Analysis for the organization etc.

It is common for trade associations[2]/diplomatic missions[3] of heavily export oriented countries to provide Market Entry Consultancy Services to companies/organizations (belonging to their origin country) from their global offices.

We believe the above definition describes the terms well. However, European Market Link wants to be more than a consultant, we want to be your leadership team in Europe. Whether your trying to decide where to start or where to go next, European Market Link inc can help.

 

Market Development
The definition and, more importantly, the understanding of “Market Development” and “Business Development” are perhaps not so clear. I checked Wikipedia and Websters. Unfortunately, Wikipedia did not provide a useful definition. I found the following in the on-line Webster’s Dictionary:

 

Definition “4” of market
a (1) : a geographic area of demand for commodities or services (2) : a specified category of potential buyers (the youth market)

: the course of commercial activity by which the exchange of commodities is effected : extent of demand (the market is dull)

c (1) : an opportunity for selling (a good market for used cars) (2) : the available supply of or potential demand for specified goods or services (the labor market)

: the area of economic activity in which buyers and sellers come together and the forces of supply and demand affect prices (producing goods for market rather than for consumption)

— “in the market”: in the position of being a potential buyer (in the market for a house)

— “on the market”: available for purchase; also : up for sale (put their house on the market)

 

Definition “1 & 2” of Development
1. The act process or result of developing (development of new ideas) (an interesting development)

2. The state of being developed

Philip Kotler states in his famous text book “Marketing Management” that…

The concept of exchange leads to the concept of a market. A market consists of all the potential customers sharing a particular need or want who might be willing and able to engage in exchange to satisfy that need or want.

I propose to define market simply as “a group of potential buyers”. We can then define or segment these markets further by describing their need, product preference, geography (state or country), demographics (age, sex, wealth), psycographics (interests, social circles) etc.

I propose to define development simply as “growth”.

Using these simply definitions, European Market Link is simply designed to grow your potential buyers by growing the area that you reach beyond the U.S. into Europe. Market development involves the sales and the marketing communication to reach the potential buyers with the message that your product is available and meets their needs better than competitors.

 

Business Development
Business Development is one step beyond Market Development (described above). By developing your business activities to ensure that you can not only sell or ‘market’ your products, but that you can also supply, invoice and manage the distribution such that you comply with local regulations and earn money. In other words, business development is growing your business infrastructure in a way to support the market development.

Business Development may or may not mean hiring people. Business Development can involve hiring agents and distributors for the distribution. It can also involve pay-as-you-go relationships with other partners, like market communication firms, legal firms, customer service houses, contract warehouses, etc.