Emerging Market Entry
- A leading global Bank and Payment Solutions Provider
- Vietnam is one of the fastest-improving countries in SEA, and much information remains to be explored on the banking and financial sectors. Client therefore wanted to understand the potential of partnering with the current banking players in Vietnam.
- At the time of the study, the financial sector and the non-cash payment modes were in its’ infancy. While this offered an untapped market opportunity, our client was faced with the prospects of entering a market that may not be ready to adopt their services.
- While challenging, this opportunity offered our clients an exciting clean slate on which to design and innovate for a new market.
- This study (via telephone interviews), was called to assess the readiness of the Vietnamese affluent consumers, in accepting this new mode of payment services vis-à-vis current methods.
- Perception of our client’s brand image was also obtained as a benchmark for future tracking.
- Findings from this study helped our client to develop a marketing strategy for Vietnam, but more importantly, it was instrumental to our clients engagement with partner banks in so far as:
- The perceived strengths of partner banks were gauged, an important input for future collaboration with these partner banks.
- In establishing a relationship with partner banks, our clients used the findings to position themselves as a value-added partner, which proved to be a useful door-opener for our client.
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