I've been asked to put together a presentation on short notice on the role of competitive intelligence in targeting new geographic markets.
I'd like to spice up the talk with more anecdotes of successful (with CI) and unsuccessful (without CI) market entries.
Eric's Duncan Hines story is at the top of the list for failures:
"My favorite story is the Duncan Hines product launch into Japan. A major producer of cake mix in the United States, they discovered that Asia was an untapped market. They did great market research on the Japanese per capita income, grocery spending, even consumer tastes to determine the right level of sweetness in their baked goods.
A check of potential competition showed that there were virtually NO competitors in this space - an incredible Blue Ocean of profit just waiting!
The product launch was a failure.
It turns out the Japanese generally do not have OVENS in their apartments.
Think broadly, my friends."
Thank you for any examples of success or failure that you can provide,