Understanding Global Market Access
The growing globalization of markets, together with developments in international trade, have resulted in an increasing number of business opportunities for international companies.
The challenges and complexities of entering new international markets can be extensive. Companies that address the specific requirements of each market and develop a comprehensive strategy for global market access, are more likely to be successful when expanding into new, overseas markets.
Manufacturers, importers, retailers or traders seeking to bring new products to a global marketplace will face challenges in managing compliance with technical regulations.
Non-compliant products must be redesigned or reengineered, resulting in delays and loss of revenue.
Customs officials may impound or deny access to non-compliant products, exposing manufacturers to potential legal consequences.
In the absence of harmonized standards and requirements, as well as differing national standards across countries and regions, manufacturers need to be aware of the regulations for each country or region they want to access.
Some countries and jurisdictions impose specific technical restrictions such as product testing, certification and shipment inspection requirements. In addition, a complex regulatory framework in some countries is constantly being updated and expanded.
GMA Services
Providers of professional services to companies seeking Global Market Access can offer all the required guidance in respect of the compliance requirements and approval strategy for each country or local area.
They can perform product testing to the correct test standards, access to local representation for clients with no presence in the respective countries or regions and help prepare applications on behalf of a company or organization.
Similarly, experienced consultants are able to perform a post-submission follow-up with the authorities or certification bodies, conduct training for your staff on technical standards used for implementation of regulations, and ensure all the latest regulatory changes are noted and updated.
Detailed market research is also essential to identify demographics, purchasing power, cultural preferences, and competition. This information enables companies to refine their products or services, and account for the specific needs and expectations of a new international client base.
An experienced Global Market Access consultant can provide accurate and reliable market data and collate all necessary market research to provides such research.
Input can be sourced from our local representatives or partners who can facilitate regional approvals and streamline the approvals process.
A dedicated, professional translation services for all necessary paperwork can be provided, which can ensure accurate and timely submissions.
Consultants can manage the preparation, completion and handling all application packages and processes, and obtain essential certification and documentation required for successful market entry.
Global Market Access services can offer a key role in business expansion and success on a global scale.
Investment in market research, regulatory compliance, strategic partnerships, localization, supply chain management, and intellectual property protection will improve the likelihood of success. While the challenges and complexities of international markets can be daunting, companies that successfully address the characteristics of each new market, and develop a comprehensive strategy for global market access, will penetrate required markets and are more likely to be successful