WEBVTT 00:00:02.795 --> 00:00:04.815 00:00:05.195 --> 00:00:09.870 Hi, I'm Dmytro Shvets, your host at the Start Global Insights, where 00:00:09.870 --> 00:00:14.130 I interview experts from different countries about local business secrets 00:00:14.280 --> 00:00:16.290 and international expansion experience. 00:00:16.379 --> 00:00:20.730 One of the biggest mistakes of businesses that are going globally is not the 00:00:20.730 --> 00:00:22.770 research, the markets they are entering. 00:00:23.550 --> 00:00:28.350 Without this data, it is more like using guts feel in your crystal ball 00:00:28.350 --> 00:00:30.630 to plan your sales activities abroad. 00:00:30.750 --> 00:00:34.680 on the other hand, market analysis is always perceived as 00:00:34.680 --> 00:00:39.690 an extremely hard task that can be fulfilled only by big corporations. 00:00:40.290 --> 00:00:45.959 To busted myth, I invited a person that involved in this activity every day. 00:00:46.530 --> 00:00:48.550 Today my guest is Olga Gvozdyova. 00:00:48.570 --> 00:00:52.530 She's an advisor to the director at the Entrepreneurship and Export 00:00:52.530 --> 00:00:57.120 Promotion office in Ukraine, and she has a wealth of experience in market 00:00:57.120 --> 00:01:01.110 intelligence, export consulting and international trade development. 00:01:01.769 --> 00:01:05.459 She's also an experienced trainer and research and selection of foreign 00:01:05.459 --> 00:01:07.740 markets and a certified consultant. 00:01:08.100 --> 00:01:11.910 On product compliance with EU regulatory requirements. 00:01:12.449 --> 00:01:14.460 Hi Olga, and welcome to the show. 00:01:15.030 --> 00:01:15.759 OG: Hello Dmytro. 00:01:15.780 --> 00:01:16.949 Thank you for having me. 00:01:18.090 --> 00:01:21.295 DS: was my introduction correct or would you like to add something? 00:01:21.735 --> 00:01:21.854 I. 00:01:22.529 --> 00:01:23.910 OG: yeah, it was correct. 00:01:23.910 --> 00:01:25.320 I could only add that. 00:01:25.380 --> 00:01:31.919 I was, I have been coordinating our analytics team since 2018, and, 00:01:31.919 --> 00:01:38.160 during that time we conducted more than 100 research project focusing, 00:01:38.160 --> 00:01:44.369 furniture, food, cosmetics, apparel, and footwear, IT and machinery industries. 00:01:44.970 --> 00:01:45.119 DS: Mm-hmm. 00:01:46.095 --> 00:01:46.395 Yeah. 00:01:46.395 --> 00:01:46.845 Okay. 00:01:46.875 --> 00:01:51.615 And then, um, I know you are dealing a lot with small and medium companies, yeah. 00:01:51.615 --> 00:01:53.774 On, on their way to the world markets. 00:01:54.345 --> 00:02:00.074 Um, maybe you can share some common or most common challenges that you see within 00:02:00.074 --> 00:02:03.044 this, um, process, that they face. 00:02:04.215 --> 00:02:09.045 OG: So a lot of companies that are coming to us, especially those who are 00:02:09.045 --> 00:02:14.235 just starting, expert in, they are coming with the, first question, 00:02:14.415 --> 00:02:20.355 just provide us the list of the potential partners and we don't need the research. 00:02:20.775 --> 00:02:23.685 We are trying to explain why do they need the research. 00:02:23.985 --> 00:02:27.615 And some companies say that, okay, we don't need this. 00:02:27.615 --> 00:02:29.205 We will do it ourselves. 00:02:29.315 --> 00:02:31.805 And then later on they will come back to us. 00:02:31.835 --> 00:02:31.924 Mm-hmm. 00:02:32.165 --> 00:02:34.085 And they say, yes, you were right. 00:02:34.204 --> 00:02:35.495 Let's do the research. 00:02:35.885 --> 00:02:39.155 And actually the research could save time and money. 00:02:39.185 --> 00:02:40.655 I have an example, actually. 00:02:40.655 --> 00:02:46.445 It was a company working in restaurant business in Kyiv and they were planning 00:02:46.445 --> 00:02:49.595 to, establish a restaurant in Warsaw. 00:02:50.234 --> 00:02:54.704 And they decided that they don't need additional research of, 00:02:54.765 --> 00:02:57.315 consumers in Warsaw because mm-hmm. 00:02:57.554 --> 00:03:01.785 They made, made an assumption that, Polish people in Warsaw 00:03:01.995 --> 00:03:06.435 have the same consum consumer behaviors as Ukrainian people in Ki. 00:03:06.625 --> 00:03:08.695 Towards cafes and restaurants. 00:03:08.845 --> 00:03:13.315 So they based all their financial estimation on this assumption, 00:03:13.885 --> 00:03:15.385 and actually they were wrong. 00:03:15.385 --> 00:03:15.445 Hmm. 00:03:15.655 --> 00:03:20.905 It's completely different because Ukrainian consumers, they, go to 00:03:20.905 --> 00:03:26.525 the cafe restaurants like a. Having a small celebration, they order a lot. 00:03:27.065 --> 00:03:32.135 although, in Poland, in Warsaw, consumers went on a 00:03:32.465 --> 00:03:37.655 business dinner, business lunch, or a loan and, ordered less 00:03:37.655 --> 00:03:40.115 than in, Ukrainian markets. 00:03:40.115 --> 00:03:40.745 So mm-hmm. 00:03:40.770 --> 00:03:44.165 They have financial, estimation was wrong. 00:03:44.560 --> 00:03:50.560 Of course when you have a big financial cushion and you can, spend it on this, 00:03:50.619 --> 00:03:56.230 it's okay, but, this is an example why you need to research beforehand. 00:03:56.880 --> 00:03:59.190 DS: Coming back to this, um, perception. 00:03:59.190 --> 00:03:59.370 Yeah. 00:03:59.370 --> 00:04:03.840 That, market research is quite, hard and, and long-term task. 00:04:03.930 --> 00:04:05.400 Maybe you have some framework. 00:04:05.400 --> 00:04:10.290 How do you research, markets, that, show that it is not so hard and, 00:04:10.290 --> 00:04:12.510 it can be done in more simpler way? 00:04:12.630 --> 00:04:13.350 OG: Yeah, sure. 00:04:13.350 --> 00:04:18.209 First, what we tell to our clients is that you are not alone. 00:04:18.329 --> 00:04:23.160 somebody has already done a lot of research, and this could cover 00:04:23.160 --> 00:04:26.010 also your sphere, for example, first. 00:04:26.160 --> 00:04:26.670 Thing. 00:04:26.670 --> 00:04:34.860 What we propose to do is to search who can help you and of course, it's us 00:04:35.040 --> 00:04:41.160 in and export promotion office, chamber of Commerce, your sectoral associations. 00:04:41.190 --> 00:04:45.570 They could already have some information on the market you are focusing on. 00:04:46.225 --> 00:04:51.655 A second thing we would like to propose to the companies is to start with a, 00:04:51.745 --> 00:04:54.415 desk research or secondary research. 00:04:54.775 --> 00:04:59.155 So you look for information that is already out there on 00:04:59.155 --> 00:05:03.805 internet, public resources, and it's not actually quite hard. 00:05:04.075 --> 00:05:05.275 There are a lot of researches. 00:05:05.750 --> 00:05:07.670 already available. 00:05:07.730 --> 00:05:12.380 And, we propose it to do it, in, several steps. 00:05:12.470 --> 00:05:19.040 First, you need to look on the market, market size, market potential, 00:05:19.040 --> 00:05:25.940 other, any economic or political, um, trends that could influence your market. 00:05:26.030 --> 00:05:28.100 Second one is consumers. 00:05:28.370 --> 00:05:32.720 What are the behavior of consumers, how they differ from your. 00:05:33.090 --> 00:05:35.669 Country, what are the current trends? 00:05:35.669 --> 00:05:38.940 What are demographic, situation with the consumers? 00:05:38.940 --> 00:05:40.770 The next one is competitors. 00:05:40.799 --> 00:05:44.010 What are the products or services do they provide? 00:05:44.010 --> 00:05:46.380 What is the range of this product or services? 00:05:46.710 --> 00:05:49.169 What are the weak and strong points? 00:05:49.705 --> 00:05:55.255 What certificates do they have, how they sell their products or services and so on. 00:05:55.585 --> 00:05:57.865 And of course, market barriers. 00:05:57.925 --> 00:06:01.915 So it could be tariffs, import tariffs, it could be 00:06:01.915 --> 00:06:03.895 quotas, it could be legislation. 00:06:03.895 --> 00:06:08.185 It could be additional voluntary, voluntary standards, and it could be. 00:06:08.615 --> 00:06:13.025 Cultural differences between, the countries you're focusing 00:06:13.025 --> 00:06:17.375 in and your country and a lot of information on these topics are 00:06:17.375 --> 00:06:19.775 already available free of charge. 00:06:19.895 --> 00:06:21.635 You just need to find it. 00:06:21.635 --> 00:06:28.535 And we are always, recommending to develop your library of resources that 00:06:28.535 --> 00:06:30.620 you will be tracking, constantly. 00:06:30.620 --> 00:06:31.020 Mm-hmm. 00:06:31.720 --> 00:06:33.910 DS: So it looks like, um, piece of cake. 00:06:33.910 --> 00:06:34.060 Yeah. 00:06:36.760 --> 00:06:39.880 Just, just gather this, this information and, and, and that's it. 00:06:40.660 --> 00:06:44.290 But, um, and, and actually what you're talking about Yes. 00:06:44.290 --> 00:06:49.420 Is to, to get help from, from somebody that is already dealing within this field. 00:06:50.110 --> 00:06:50.155 Sure. 00:06:50.155 --> 00:06:54.910 And, I know that, your office in, in Ukraine is, um, quite young. 00:06:55.000 --> 00:06:55.150 Yeah. 00:06:55.150 --> 00:06:59.290 Comparing to other countries, but still you, you are helping a lot to, to 00:06:59.500 --> 00:07:01.240 businesses to understand other markets. 00:07:01.620 --> 00:07:05.190 And to also select focus markets you, because this is also one of 00:07:05.190 --> 00:07:09.510 the important, important steps, that, companies should do is we 00:07:09.510 --> 00:07:11.970 have, about 200 countries mm-hmm. 00:07:12.210 --> 00:07:16.350 Here in the world that are, um, acting in expertise, part activities, 00:07:16.350 --> 00:07:20.220 and, um, how to understand that you should be focused on, on, on some. 00:07:21.390 --> 00:07:22.169 Of them. 00:07:22.200 --> 00:07:26.099 Um, because in, in my practice also, companies are coming and saying that 00:07:26.099 --> 00:07:27.960 we will sell everywhere at once. 00:07:27.989 --> 00:07:28.289 Yes. 00:07:28.289 --> 00:07:31.440 And that's, where, where the client will come from, then, 00:07:31.440 --> 00:07:33.030 we'll sell that to this, country. 00:07:33.030 --> 00:07:37.530 And then they do not realize that this, requires a lot of resources and, 00:07:37.679 --> 00:07:39.390 you should be focused on that. 00:07:39.450 --> 00:07:42.900 I know that you, you also talk a lot to other, export promotion 00:07:42.900 --> 00:07:44.219 offices in other countries. 00:07:44.715 --> 00:07:49.275 Maybe you can advise, this offices as, as the resources also 00:07:49.275 --> 00:07:52.635 yet to, to look for the information, at least what I, what I use. 00:07:52.635 --> 00:07:52.785 Yeah. 00:07:52.785 --> 00:07:56.295 I use, export.gov, in the United States. 00:07:56.295 --> 00:07:56.445 Yeah. 00:07:56.445 --> 00:08:00.975 So they publish a lot of, of information at the, office 00:08:00.975 --> 00:08:04.875 of, export promotion in, Australia is also quite good. 00:08:05.025 --> 00:08:08.325 Um, what, what else, what, what can you advice, from. 00:08:08.715 --> 00:08:11.485 From this, conversation with other export promotion office? 00:08:11.505 --> 00:08:16.875 OG: Yeah, so, um, basically our services actually emerged and developing, 00:08:17.055 --> 00:08:21.974 developed through communication with this European Trade Promotion organization. 00:08:21.974 --> 00:08:27.465 So we looked at the experience, what they've done, what, they've done 00:08:27.465 --> 00:08:32.625 it and didn't work, what, challenges do they have with the clients. 00:08:33.150 --> 00:08:37.919 And I would say that we have the same challenges in terms of, 00:08:38.490 --> 00:08:43.530 companies, especially, small companies and starters in expert in. 00:08:43.740 --> 00:08:48.450 So, they have the same issue with clients coming to them and saying that 00:08:48.540 --> 00:08:54.510 I will export everywhere, or, small craft, company saying, I will, I 00:08:54.510 --> 00:08:56.580 would like to export to the US because. 00:08:57.360 --> 00:08:59.010 Because it's a biggest market. 00:08:59.430 --> 00:08:59.520 Mm-hmm. 00:08:59.760 --> 00:09:00.360 OG: For sure. 00:09:00.450 --> 00:09:05.730 We, and they also propose companies to focus on one market 00:09:05.790 --> 00:09:10.920 before going to another and scaling their export activities. 00:09:11.160 --> 00:09:11.250 Mm-hmm. 00:09:11.790 --> 00:09:14.760 OG: Of course, we, we use the resources you mentioned. 00:09:14.760 --> 00:09:18.630 I also use the resources of other organizations. 00:09:18.630 --> 00:09:23.820 For example, there are a lot of import promotion organization in Europe. 00:09:25.530 --> 00:09:27.060 Open Trade Gate, Sweden. 00:09:27.060 --> 00:09:31.050 They have some research on, Swedish Market, CBI, eu. 00:09:31.110 --> 00:09:36.090 They have a lot of resources on European markets as a whole and comparing 00:09:36.090 --> 00:09:41.280 different countries and they have not only information about demand, 00:09:41.340 --> 00:09:46.949 about regulation, but also tips and articles, how to find the buyer. 00:09:46.995 --> 00:09:52.905 within the European market, how to, prepare yourself and so on. 00:09:53.325 --> 00:09:58.065 but of course there are some, resources from 00:09:58.065 --> 00:10:00.165 trade promotion organization. 00:10:00.165 --> 00:10:04.725 I personally, apart from us, really like UK resource. 00:10:05.104 --> 00:10:07.354 Great gov.uk. 00:10:07.775 --> 00:10:14.344 They have a lot of, um, export, tests and, articles, guides, 00:10:14.405 --> 00:10:19.625 and of course, as us they have information about each countries and 00:10:19.625 --> 00:10:21.964 potential niches in each countries. 00:10:22.204 --> 00:10:25.474 This is what we actually trying to do now in Ukraine. 00:10:26.220 --> 00:10:29.939 We also have information on, 50 countries right now. 00:10:29.970 --> 00:10:32.160 We expand in every month. 00:10:32.160 --> 00:10:37.230 So we just, added, main retailers in each and of course 00:10:37.230 --> 00:10:41.880 on our GA business, website, we have, sectoral research. 00:10:41.880 --> 00:10:49.199 So for example, US furniture market or snacks, in Netherlands and so on. 00:10:49.905 --> 00:10:50.445 DS: Great. 00:10:50.505 --> 00:10:53.055 And, and coming back to country selection. 00:10:53.055 --> 00:10:53.205 Yeah. 00:10:53.205 --> 00:10:55.605 So do, do you have any tips on, on that? 00:10:55.665 --> 00:11:00.375 Is there kind of a magic wand or, or something, some, some tips, 00:11:00.375 --> 00:11:05.445 that, can do this simpler or how to understand what country would be your 00:11:05.505 --> 00:11:09.255 potential focus country with the biggest potential for your product or services? 00:11:09.465 --> 00:11:11.420 OG: I would say that there is no magic wand. 00:11:11.770 --> 00:11:13.209 But of course there are tips. 00:11:13.689 --> 00:11:20.319 So we have a model that we use on how to choose the priority market. 00:11:20.319 --> 00:11:23.739 There are a lot of formulas, but I need to tell you that 00:11:24.010 --> 00:11:28.719 this research should be combined always with your export readiness. 00:11:28.865 --> 00:11:29.855 Export readiness of the 00:11:30.240 --> 00:11:30.400 company. 00:11:30.400 --> 00:11:30.720 OG: Mm-hmm. 00:11:31.060 --> 00:11:36.275 So, of course you rely on the data, but also think about either, are you 00:11:36.275 --> 00:11:38.195 ready for this market or not right now. 00:11:38.405 --> 00:11:38.795 DS: Mm-hmm. 00:11:39.035 --> 00:11:41.045 More like what resources do you have? 00:11:41.045 --> 00:11:41.225 Yeah. 00:11:41.225 --> 00:11:43.685 What, what, what is your capabilities? 00:11:43.745 --> 00:11:47.615 and you should select market according to this capabilities, not just. 00:11:47.900 --> 00:11:48.650 The biggest one. 00:11:49.100 --> 00:11:51.710 The biggest one as we always, discuss with you. 00:11:51.710 --> 00:11:51.920 Yeah. 00:11:51.920 --> 00:11:55.370 So there, there are three of them, Germany, US and China. 00:11:55.370 --> 00:11:59.000 And, you, you don't need to research and gathering data to understand 00:11:59.000 --> 00:12:00.680 what, what is the biggest market. 00:12:00.710 --> 00:12:01.550 OG: Yeah, that's true. 00:12:01.939 --> 00:12:05.300 So it should be always combined data and. 00:12:05.495 --> 00:12:07.115 Your readiness for these markets. 00:12:07.145 --> 00:12:07.235 Mm-hmm. 00:12:08.165 --> 00:12:11.435 OG: And in terms of the data, of course, we propose companies 00:12:11.435 --> 00:12:12.725 to research themselves. 00:12:12.725 --> 00:12:17.015 And actually one of our goals is not only to provide research for 00:12:17.015 --> 00:12:21.335 the companies, but to teach them how do the research themselves. 00:12:21.995 --> 00:12:26.405 And if we narrow it down to simple methodology 00:12:26.525 --> 00:12:26.615 DS: mm-hmm. 00:12:26.855 --> 00:12:31.055 OG: You take, several factors and the main group of factors is. 00:12:31.100 --> 00:12:35.930 market attractiveness and barriers to the market in 00:12:35.930 --> 00:12:37.550 terms of market attractiveness. 00:12:37.550 --> 00:12:38.540 You can take. 00:12:38.730 --> 00:12:43.320 volume of import of your products to this country. 00:12:43.680 --> 00:12:48.270 how these volume are growing over the last five years. 00:12:48.720 --> 00:12:51.630 local consumption and how it is growing. 00:12:51.840 --> 00:12:57.720 in terms of the barriers you can take, import tariffs, you can 00:12:57.720 --> 00:13:02.580 take, additional legislation or regulation and certification 00:13:02.580 --> 00:13:04.320 that you need to adapt to your. 00:13:04.550 --> 00:13:05.780 Products and so on. 00:13:06.079 --> 00:13:08.449 So of course these are basic criteria. 00:13:08.454 --> 00:13:08.635 Mm-hmm. 00:13:08.719 --> 00:13:13.640 And you can add more, of course, you can add, more if you are focusing, for 00:13:13.640 --> 00:13:19.729 example, for particular consumers like women or chi children of certain age, you 00:13:19.729 --> 00:13:22.670 can track, their demography and so on. 00:13:23.180 --> 00:13:27.859 But basically you use this criteria and you compare countries. 00:13:29.325 --> 00:13:33.465 we have actually, in our organization the model that could 00:13:33.465 --> 00:13:39.255 compare all countries, but, we suggest companies to start with 10 00:13:39.255 --> 00:13:43.845 companies with the region you would like to target and compare them, and 00:13:43.845 --> 00:13:46.305 then narrow down to three countries. 00:13:46.950 --> 00:13:51.750 And then, do the more detailed research for these three countries. 00:13:51.750 --> 00:13:57.930 For example, looking at the competitors, looking at the, more deeply in 00:13:57.930 --> 00:14:03.600 the regulation and comparing your, readiness to this markets and choosing 00:14:03.600 --> 00:14:05.640 one market that you will be working with. 00:14:07.410 --> 00:14:09.300 DS: how do you find this data? 00:14:09.360 --> 00:14:11.370 So is it, simple? 00:14:11.370 --> 00:14:11.610 Yeah. 00:14:11.610 --> 00:14:16.261 To, to gather this, unified data that you can compare to, 00:14:16.266 --> 00:14:19.980 to each other within this, for example, top three markets. 00:14:19.980 --> 00:14:21.480 Um, where do you find them? 00:14:21.660 --> 00:14:23.760 So could you share your resources? 00:14:23.760 --> 00:14:24.390 OG: Sure. 00:14:24.615 --> 00:14:30.735 If we talk about, GDP and Demography, we are using World Bank data. 00:14:30.944 --> 00:14:31.035 Mm-hmm. 00:14:31.035 --> 00:14:32.925 And it's actually unified. 00:14:32.985 --> 00:14:35.355 It's, very simple to use mm-hmm. 00:14:36.045 --> 00:14:38.324 In terms of the trade volumes. 00:14:38.324 --> 00:14:41.775 So ex export and import, we use trade map. 00:14:41.985 --> 00:14:45.209 it's also free of charge, like World Bank data. 00:14:46.010 --> 00:14:53.090 And, they, use official statistics or they mirror the data. 00:14:53.090 --> 00:14:57.079 if the country do not provide the data, they use their partner's data. 00:14:57.810 --> 00:15:00.390 And this tool is very simple to use. 00:15:00.390 --> 00:15:06.180 It's our first, tool that we recommend to the companies. 00:15:06.180 --> 00:15:11.280 I personally believe that each and every university teaching, a future 00:15:11.460 --> 00:15:17.430 export managers should use it, um, because it's quite simple and unified. 00:15:17.520 --> 00:15:17.790 Yes. 00:15:17.790 --> 00:15:17.880 Mm-hmm. 00:15:18.390 --> 00:15:21.960 In terms of the consumption, local consumption mm-hmm. 00:15:22.590 --> 00:15:23.675 Is where we have problems. 00:15:24.765 --> 00:15:31.365 So unfortunately a lot of information with the consumption are not free of charge. 00:15:31.575 --> 00:15:36.645 For this, we personally use for this passport, Euro Euromonitor, 00:15:36.645 --> 00:15:38.655 but it's not free of charge. 00:15:38.835 --> 00:15:44.955 It's quite an expensive database, but, we, purchase it, 00:15:44.955 --> 00:15:49.215 exactly for this matter because they have unified information. 00:15:49.415 --> 00:15:50.285 On the markets. 00:15:50.375 --> 00:15:50.464 Mm-hmm. 00:15:50.704 --> 00:15:55.444 They, operate, these are not all, 200 markets, but 00:15:55.444 --> 00:16:00.395 still there are a lot of, countries which we are working with. 00:16:01.590 --> 00:16:08.010 And if, as for the consumption, and additional data of on competitors, 00:16:08.010 --> 00:16:11.160 I really recommend to use associations 00:16:11.370 --> 00:16:11.460 mm-hmm. 00:16:11.700 --> 00:16:18.000 OG: To check association in the countries that you are, willing to research. 00:16:18.510 --> 00:16:22.830 And a lot of association, especially when we talk about Europe, when 00:16:22.830 --> 00:16:27.720 we talk about North America, they have a lot of information and they 00:16:27.720 --> 00:16:30.270 are actually the stakeholders that. 00:16:30.335 --> 00:16:31.895 Research the sector. 00:16:32.255 --> 00:16:35.645 Of course, sometimes this research are not free of charge, 00:16:35.645 --> 00:16:37.865 but they, publish a lot. 00:16:38.075 --> 00:16:42.185 They publish some information on the consumption and on 00:16:42.185 --> 00:16:43.955 the forecast, on the trends. 00:16:44.225 --> 00:16:47.675 So they could be very good resource, for you. 00:16:48.125 --> 00:16:51.545 And also additional source is media. 00:16:51.745 --> 00:16:56.095 Sector, media, this, we are going deeper, not in unified 00:16:56.095 --> 00:16:57.595 information, but maybe mm-hmm. 00:16:57.835 --> 00:17:01.525 Those markets that you already selected, five or two markets. 00:17:01.885 --> 00:17:05.785 But I really recommend to find the media on this market. 00:17:05.785 --> 00:17:11.185 For example, when we were researching a US furniture market and we were 00:17:11.185 --> 00:17:16.825 actually, um, privileged to consult with the local, experts who told us. 00:17:17.060 --> 00:17:21.500 Everything you need to know about this market is on one website, it's called 00:17:21.500 --> 00:17:26.210 Furniture Today, and it has, mm-hmm a lot of interviews with the experts, a lot 00:17:26.329 --> 00:17:31.580 of, forecasts, a lot of information from different, product groups. 00:17:32.415 --> 00:17:33.915 Analysis and so on. 00:17:33.975 --> 00:17:39.465 And, they, starting from COVID time, they had a lot of free webinars, 00:17:39.885 --> 00:17:45.044 with their, buyers, talking about how they're switching from, 00:17:45.405 --> 00:17:48.284 China to other, suppliers. 00:17:48.284 --> 00:17:52.185 And of course, right now they have a hot topic of tariffs and they, you 00:17:52.185 --> 00:17:54.254 can find a lot of information on that. 00:17:54.284 --> 00:17:55.784 DS: Mm-hmm. 00:17:56.565 --> 00:17:57.284 Yeah, for sure. 00:17:59.445 --> 00:18:04.575 With, this era of bloggers and vloggers, when everybody's 00:18:04.605 --> 00:18:06.795 launching a podcast or a vlog. 00:18:06.855 --> 00:18:10.845 so they need to have guests like, like, like we have now. 00:18:10.845 --> 00:18:11.205 Yeah. 00:18:11.205 --> 00:18:14.865 And, they invite the industry experts in their countries. 00:18:14.865 --> 00:18:15.105 Yeah. 00:18:15.105 --> 00:18:16.695 They, I didn't think about that. 00:18:16.695 --> 00:18:20.505 So I, I didn't, look in YouTube, for example, for this information. 00:18:20.505 --> 00:18:20.595 Mm-hmm. 00:18:20.835 --> 00:18:25.275 But there might be interviews in of media or this webinars, or recorded 00:18:25.275 --> 00:18:26.565 webinars that, are there. 00:18:26.625 --> 00:18:27.075 OG: Sure. 00:18:27.660 --> 00:18:28.170 DS: What else? 00:18:28.170 --> 00:18:31.920 What, what, what other databases, do you use to gather 00:18:31.920 --> 00:18:34.260 information about, markets? 00:18:34.350 --> 00:18:37.020 OG: one good resource for us is Statista. 00:18:37.920 --> 00:18:40.320 It's partially free of church. 00:18:40.320 --> 00:18:44.760 Partially you need to pay, but it's very good in terms of 00:18:44.760 --> 00:18:46.770 they cover different resources. 00:18:46.935 --> 00:18:48.254 So they mm-hmm. 00:18:48.495 --> 00:18:52.815 Have different countries and local resources and international resources, 00:18:53.054 --> 00:18:58.335 and you can buy, um, access for a year or for a certain period and 00:18:58.514 --> 00:19:02.985 check, the countries that you're interested in and make a list of 00:19:02.985 --> 00:19:04.995 resources that you will be using. 00:19:05.610 --> 00:19:10.980 And we actually update in our resource library, um, thanks to 00:19:10.980 --> 00:19:13.560 this, statistical database. 00:19:13.740 --> 00:19:18.150 But they also, apart from that, they also do their own research. 00:19:18.150 --> 00:19:23.280 For example, they have a lot of surveys with the consumers and they're very 00:19:23.280 --> 00:19:28.410 good in terms of making a customer profile for your, company. 00:19:28.500 --> 00:19:28.620 Mm-hmm. 00:19:28.795 --> 00:19:33.240 We are, using, if we approaching country that we have. 00:19:33.275 --> 00:19:36.485 Never worked before, and the sector that we never worked 00:19:36.485 --> 00:19:38.255 before with this country, mm-hmm. 00:19:38.495 --> 00:19:43.745 We're using AI to help us to find local sources, to help us 00:19:43.745 --> 00:19:48.485 to find local associations and to help us to find competitors. 00:19:48.959 --> 00:19:54.870 Of course, my advice is to always check with, these resources after 00:19:54.870 --> 00:20:00.510 that, not to just to ask, AI about whether we should go and what are 00:20:00.510 --> 00:20:05.399 the facts of this, country always crosscheck with the resources, but this 00:20:05.399 --> 00:20:11.280 is very good starting point in terms of finding these resources, using ai. 00:20:12.840 --> 00:20:15.840 DS: Yeah, actually it is very tempting now to use, uh. 00:20:16.335 --> 00:20:19.905 for example, this new function of deep research in Gemini. 00:20:19.905 --> 00:20:23.865 Were in chat g PT when it is, um, kind of a magic. 00:20:23.865 --> 00:20:24.075 Yeah. 00:20:24.075 --> 00:20:28.725 So you were asking, to analyze, some specific market and it prepares you 00:20:28.725 --> 00:20:33.885 the report for several pages describing the competitors and all that stuff. 00:20:34.004 --> 00:20:35.685 and it is so beautiful. 00:20:35.685 --> 00:20:35.805 Yeah. 00:20:35.805 --> 00:20:39.375 So you would like to believe that it is so well structured, with 00:20:39.375 --> 00:20:41.325 so, with such a good language, but. 00:20:41.760 --> 00:20:47.970 But you don't know totally if it is a, a fantasy of the, 00:20:48.030 --> 00:20:50.370 AI or it is a true stories. 00:20:50.730 --> 00:20:55.440 And I also think that you should be as, as an analyst and, and um, data 00:20:55.740 --> 00:20:59.700 researcher, you should be quite creative in finding information and know you 00:20:59.730 --> 00:21:02.610 should always think how to do that. 00:21:02.610 --> 00:21:04.380 I also remember Case when we had. 00:21:04.800 --> 00:21:10.410 A project in, in, um, Tajikistan, which didn't have any information 00:21:10.410 --> 00:21:12.330 available about the companies. 00:21:12.900 --> 00:21:14.340 And we used, you know what? 00:21:14.340 --> 00:21:18.785 We, we used Google Maps in, um, satellite mode. 00:21:19.710 --> 00:21:21.690 Just square by square kilometer. 00:21:21.690 --> 00:21:27.180 We searched for factories, for factories that were producing something and then 00:21:27.180 --> 00:21:31.620 we were looking within local language of what companies are in this region. 00:21:32.010 --> 00:21:35.520 So always all there is always information, but you should, think, uh. 00:21:36.195 --> 00:21:38.685 Creatively to find it good. 00:21:38.805 --> 00:21:43.035 What, what other, data sources, might be available apart 00:21:43.035 --> 00:21:45.465 from, databases and websites? 00:21:45.525 --> 00:21:45.675 00:21:45.735 --> 00:21:49.935 OG: yeah, just to add for the desk research, I would, also 00:21:49.935 --> 00:21:55.185 use some reports by Big Four or McKenzie or other big firms. 00:21:55.185 --> 00:21:59.175 Sometime they have a lot of interest in, public reports. 00:21:59.895 --> 00:22:05.085 And just to summarize, so there it is, international database that, have 00:22:05.085 --> 00:22:12.135 unified information reports of, big, like big four and other companies, 00:22:12.135 --> 00:22:14.955 sectoral associations and sectoral media. 00:22:14.955 --> 00:22:16.845 And of course this is all. 00:22:17.495 --> 00:22:19.415 Desk research and this mm-hmm. 00:22:19.685 --> 00:22:26.435 What it is on the data, which is current and some forecast, and you should always 00:22:26.465 --> 00:22:29.495 combine it with the field research. 00:22:29.855 --> 00:22:30.485 So mm-hmm. 00:22:30.725 --> 00:22:36.365 Go into your focus market, talking with, potential partners, 00:22:36.574 --> 00:22:42.365 talking with your potential, consumers, doing interviews 00:22:42.425 --> 00:22:45.935 and perhaps, doing some, uh. 00:22:46.845 --> 00:22:48.105 Test sales. 00:22:48.105 --> 00:22:48.195 Mm-hmm. 00:22:48.825 --> 00:22:54.345 That will help you to get the feedback and to, um, get the feedback from 00:22:54.345 --> 00:22:58.515 the consumers, from the companies or, maybe to have online 00:22:58.515 --> 00:23:03.645 sales and connected with the, online service of your consumers. 00:23:04.335 --> 00:23:07.815 DS: By the way, I, I also remembered one case, not even one case, but, 00:23:07.815 --> 00:23:11.595 but one source of information that we have used, and which is 00:23:11.595 --> 00:23:13.575 not obvious, but very interesting. 00:23:14.325 --> 00:23:19.545 This is, the yearly reports of stock listed companies because they, 00:23:19.605 --> 00:23:24.735 they're forced to publish, um, their real yearly reports for their shareholders. 00:23:24.885 --> 00:23:27.855 And, these reports are open because they are listed on the 00:23:27.855 --> 00:23:29.010 public, stock exchange. 00:23:29.729 --> 00:23:34.199 In these reports, they also publish not only own information about their 00:23:34.199 --> 00:23:38.639 own financial data, for example, but they also, publish their strategy 00:23:38.639 --> 00:23:44.340 for upcoming years and to prove this strategy, they published the market 00:23:44.340 --> 00:23:48.945 research they conducted to make this strategy for the expansion, for the 00:23:48.945 --> 00:23:50.429 international expansion, for example. 00:23:50.939 --> 00:23:54.270 And, I don't know how about era, but we used. 00:23:54.970 --> 00:23:59.410 The US there is a search engine, um, called Edgar. 00:23:59.980 --> 00:24:05.920 It, it, searches through the US stock, exchanges, and um, you 00:24:05.920 --> 00:24:08.710 can search for the reports by keywords. 00:24:09.490 --> 00:24:09.520 Uh. 00:24:09.520 --> 00:24:11.534 There's also quite good, um, information. 00:24:11.540 --> 00:24:11.760 Mm-hmm. 00:24:11.899 --> 00:24:13.004 But, coming back, yeah. 00:24:13.425 --> 00:24:15.435 So to the field research, I, I interrupted you. 00:24:15.435 --> 00:24:15.675 OG: Yes. 00:24:15.675 --> 00:24:21.824 So, first what, what you can do is, to have interviews with your potential 00:24:21.824 --> 00:24:25.725 consumers or your potential, um, partners. 00:24:26.114 --> 00:24:32.445 but I would recommend here to first find everything that you can find online. 00:24:32.860 --> 00:24:38.470 And not, not to ask them not to bother them, word them with the question 00:24:38.470 --> 00:24:43.480 that you can find yourself and only ask those question that will help 00:24:43.480 --> 00:24:48.820 you deepen the information that you already have and check your hypothesis. 00:24:49.470 --> 00:24:52.050 And it should be open questions. 00:24:52.409 --> 00:24:59.040 you should, listen to what, what you are being told and, 00:24:59.399 --> 00:25:03.330 do not rely only on one opinion. 00:25:03.360 --> 00:25:09.120 Try to broaden this, interviews and check later on 00:25:09.120 --> 00:25:10.949 with when you already silent. 00:25:11.010 --> 00:25:16.470 Also, check my, my actually main tip will be do not stop researching. 00:25:16.760 --> 00:25:23.840 Even already in the market, use it to, research potential new niches. 00:25:23.840 --> 00:25:28.520 And we have a lot of clients, who for example, already went to 00:25:28.520 --> 00:25:34.250 the market, and then, use a communication with their partner with the 00:25:34.250 --> 00:25:36.680 distributor to find additional niches. 00:25:36.680 --> 00:25:41.810 One example that I have is the beer company who was selling beer. 00:25:41.870 --> 00:25:47.030 And, they found out that there is a. Product of spent grain. 00:25:47.120 --> 00:25:51.649 So after the, after they producing the beer, they have some, some sub 00:25:51.649 --> 00:25:58.280 products that is leftovers, but they, in Europe, they use already snacks. 00:25:58.665 --> 00:26:00.375 out of this, product. 00:26:00.375 --> 00:26:06.585 So they come back to us asking about can we research some con, competitors 00:26:06.585 --> 00:26:11.475 and, products in this market so that we will understand how they use 00:26:11.475 --> 00:26:15.825 it, how they do this, and maybe to launch, a new product for us. 00:26:16.545 --> 00:26:17.835 DS: What about the trade shows? 00:26:18.225 --> 00:26:22.155 Is it a good idea to use them as a business intelligence trip? 00:26:22.395 --> 00:26:22.815 OG: Sure. 00:26:22.905 --> 00:26:27.945 this is also what we recommend not only come coming to the trade 00:26:27.945 --> 00:26:34.395 shows for finding a partner, but also, take with you additional, 00:26:34.395 --> 00:26:40.995 employees who could, go around the boosts, who could talk with the, 00:26:41.415 --> 00:26:43.725 with your competitors, talk with. 00:26:44.610 --> 00:26:50.129 with, potential partners in terms of researching the market, 00:26:50.129 --> 00:26:56.010 and, also, trying to check what the, you have after the desk research. 00:26:56.010 --> 00:26:56.370 Yes. 00:26:56.670 --> 00:27:02.040 And, trying also the products, that your competitors are presenting. 00:27:02.430 --> 00:27:08.070 what are the trends, what do, how they offer them, and, what they have. 00:27:08.070 --> 00:27:08.340 What. 00:27:08.345 --> 00:27:09.695 You don't have right now. 00:27:10.175 --> 00:27:14.345 So, and this is, I think what companies in Ukraine are neglecting. 00:27:14.345 --> 00:27:20.765 They are focusing on trade shows only for, um, B2B, um, maybe because mm-hmm. 00:27:21.005 --> 00:27:26.045 Lack of resources this, understand, you couldn't take five people 00:27:26.045 --> 00:27:27.905 with you on the trade show sometimes. 00:27:27.965 --> 00:27:28.565 Mm-hmm. 00:27:28.805 --> 00:27:33.365 But I really, recommend at least spend some time. 00:27:33.824 --> 00:27:38.024 In addition, talking to your, business partners and of course 00:27:38.054 --> 00:27:42.764 integrating research question in your negotiation with the partners. 00:27:43.064 --> 00:27:47.294 And also try to, if you, for example, a food company, go to the 00:27:47.294 --> 00:27:50.294 supermarkets, make a store check. 00:27:50.445 --> 00:27:55.395 Try, try what, what they're selling in this market, or, 00:27:55.485 --> 00:27:59.895 go to the association, talk with the other companies. 00:28:00.855 --> 00:28:05.025 Apart from your, um, B2B sales, projects. 00:28:05.655 --> 00:28:05.865 DS: Yeah. 00:28:05.865 --> 00:28:11.325 And by the way, now you can do a store check, um, at least by prices and, 00:28:11.325 --> 00:28:14.595 by the, um, packaging online. 00:28:14.805 --> 00:28:19.035 Almost, all supermarkets have their online stores, so you can easily 00:28:19.425 --> 00:28:20.115 OG: Yeah, yeah. 00:28:20.115 --> 00:28:24.375 We, we also have one of the resources that I haven't mentioned before. 00:28:25.245 --> 00:28:32.354 Just, focusing on online, stores and offline Also, they actually making 00:28:32.354 --> 00:28:38.445 photos of all the products that are coming on supermarkets, small, markets. 00:28:38.864 --> 00:28:43.665 And they, you can track, not only prices, but I think you 00:28:43.665 --> 00:28:45.854 can track also also ingredients. 00:28:46.295 --> 00:28:47.360 You can mm-hmm. 00:28:47.495 --> 00:28:48.665 Track claims. 00:28:48.725 --> 00:28:55.205 for example, if it's this natural product or vegan product or dairy free and 00:28:55.205 --> 00:28:58.145 so on, and you can track certification. 00:28:58.145 --> 00:29:02.675 And actually some of our company's clients were using these two, 00:29:03.065 --> 00:29:06.095 making you, packaging. 00:29:06.345 --> 00:29:07.575 For their, mm-hmm. 00:29:07.575 --> 00:29:07.965 Products. 00:29:07.970 --> 00:29:08.100 Mm-hmm. 00:29:08.220 --> 00:29:13.155 So they choose the market, but they, they understood the, the 00:29:13.155 --> 00:29:18.045 need, adapt their product to this market, and they use it to making new 00:29:18.045 --> 00:29:20.655 packaging, only for this market. 00:29:20.715 --> 00:29:23.745 And of course they, you can use it also to. 00:29:24.465 --> 00:29:25.275 Integrate. 00:29:25.485 --> 00:29:31.395 If it's, again, food products you can use, some flavors, 00:29:31.425 --> 00:29:34.935 that is particular for this market, especially when, and we are talking 00:29:34.935 --> 00:29:39.945 about Asian markets, there are very different from us in terms of the 00:29:40.335 --> 00:29:42.585 flavors and ingredients that they use. 00:29:42.585 --> 00:29:46.665 So really recommend you looking into online sources. 00:29:46.995 --> 00:29:50.655 And of course, this database called Mental, they have mm-hmm. 00:29:51.909 --> 00:29:57.129 Not free of charge, but they have free of charge blocks where they talk 00:29:57.129 --> 00:30:03.189 about, consumer behaviors and also tastes, and, difference 00:30:03.189 --> 00:30:05.469 between, regions and market. 00:30:05.705 --> 00:30:09.699 DS: Um, I also remember it when I was doing the program for Google. 00:30:09.790 --> 00:30:15.909 they also advised to use their tools, um, of, um, advertisement analysis. 00:30:15.909 --> 00:30:16.090 Yeah. 00:30:16.090 --> 00:30:17.500 So they have this, uh mm-hmm. 00:30:17.820 --> 00:30:22.620 I think it is called Ads Transparency or, Google Ads Transparency, where 00:30:22.620 --> 00:30:27.389 you can search within the country, um, some specific brand and they're 00:30:27.570 --> 00:30:32.430 advertising so you can analyze, the advertising of your competitors and 00:30:32.430 --> 00:30:37.170 see what are the messages, the, the messages that are, they are using, 00:30:37.170 --> 00:30:41.699 what are the images they are using, and all this information about the product. 00:30:41.699 --> 00:30:43.409 So it might be also helpful, 00:30:43.649 --> 00:30:44.040 OG: yeah. 00:30:44.040 --> 00:30:46.919 DS: To understand how to position your product with, within this country. 00:30:47.129 --> 00:30:52.199 OG: We actually, sometimes we're using, when we are talking about IT companies, 00:30:52.649 --> 00:30:57.780 especially with particular sector like, developing a website or 00:30:57.959 --> 00:31:02.760 providing, some services, for the website we were using, the 00:31:02.760 --> 00:31:05.639 database they have, that they have, um. 00:31:06.495 --> 00:31:07.605 HR tools. 00:31:07.845 --> 00:31:13.485 So they have, they're international and they have, vacancies for 00:31:13.485 --> 00:31:18.465 different, countries in terms of, developing the websites. 00:31:18.975 --> 00:31:25.215 And of course you can analyze, what are the, um, requirements, 00:31:25.215 --> 00:31:29.985 what, for example, additional knowledge or additional, tools 00:31:29.985 --> 00:31:32.175 you need to know and you need to have. 00:31:32.910 --> 00:31:39.900 And, in terms of other, sectors we were, analyzing also tenders. 00:31:40.080 --> 00:31:40.170 Mm-hmm. 00:31:40.410 --> 00:31:46.560 So, government tenders, especially in, eu, they're all public and you 00:31:46.560 --> 00:31:51.930 can, even if you're not applying to the tender, you can, see all 00:31:51.930 --> 00:31:54.090 the requirements and you can mm-hmm. 00:31:54.330 --> 00:31:57.540 Companies that, um, have won this tender. 00:32:00.675 --> 00:32:04.034 It's a good source for searching the competitors, but also for the 00:32:04.034 --> 00:32:08.655 partners because these companies are always searching for subcontractors. 00:32:09.105 --> 00:32:09.615 Uh mm-hmm. 00:32:09.885 --> 00:32:13.485 But in terms of, searching for the regulation, this is also 00:32:13.485 --> 00:32:18.195 a good source, especially for those, this are not. 00:32:18.220 --> 00:32:24.940 Regulation and, demand from the market on specific, certification 00:32:24.940 --> 00:32:30.400 or specific knowledge of specific experience that are not legally biding, 00:32:30.670 --> 00:32:32.560 but it's demanded by the market. 00:32:32.560 --> 00:32:35.470 So this is also could be a good source of information. 00:32:36.010 --> 00:32:40.030 DS: And last year we have been developing program for entrepreneurship in Denmark, 00:32:40.030 --> 00:32:45.610 and it was also a public tender and our proposal was online totally. 00:32:46.050 --> 00:32:47.970 Like the whole contract. 00:32:48.445 --> 00:32:53.010 I, I mean with prices, with, the content, what we have been proposing. 00:32:53.010 --> 00:32:56.910 So you can analyze the offers of these competitors totally with, 00:32:56.915 --> 00:32:59.850 with conditions and prices that they're sure they're showing. 00:33:00.390 --> 00:33:03.960 Well, I think that there are so many sources and, so anybody 00:33:03.960 --> 00:33:08.850 who is listening now, you are free to leave your comments in 00:33:08.850 --> 00:33:11.220 Apple Podcast or YouTube or Spotify. 00:33:12.014 --> 00:33:16.095 With your questions about some specific sources, and, I will monitor them 00:33:16.095 --> 00:33:21.524 and maybe I can find some answers for you, or I will ask Olha to help me. 00:33:21.615 --> 00:33:21.825 OG: Sure. 00:33:22.784 --> 00:33:27.345 DS: The last, for, for today I believe question is, you 00:33:27.345 --> 00:33:28.665 have gathered this information. 00:33:28.665 --> 00:33:28.754 Yeah. 00:33:28.754 --> 00:33:33.764 So, the first step, you, you wrote down a list of questions. 00:33:33.764 --> 00:33:33.885 Yeah. 00:33:33.885 --> 00:33:35.745 So you understood what to analyze. 00:33:35.745 --> 00:33:39.615 Then you, gathered the source library and, gathered this 00:33:39.615 --> 00:33:41.475 data from this, sources. 00:33:41.790 --> 00:33:43.020 And you have a bunch of data. 00:33:43.020 --> 00:33:43.230 Yeah. 00:33:43.470 --> 00:33:47.430 You, you, you have so many data that, you have this analysis 00:33:47.430 --> 00:33:48.870 paralysis what to do next? 00:33:48.870 --> 00:33:53.580 OG: Well, we as a research team always have this problem that there are a lot of 00:33:53.580 --> 00:33:59.820 resources, a lot of things to research, but we are limited, but resources 00:33:59.820 --> 00:34:03.840 that we have, for example, we are limited by time and we are limited by. 00:34:04.300 --> 00:34:05.800 The quality. 00:34:05.830 --> 00:34:10.600 So first what I would recommend is to understand what, will be most 00:34:10.600 --> 00:34:16.840 useful for you to adapt your strategy for this market in terms of when you 00:34:16.840 --> 00:34:21.790 are feeling that, there are too many information that you already found a lot 00:34:21.790 --> 00:34:24.100 of research, and you need to summarize it. 00:34:24.100 --> 00:34:24.904 It's good. 00:34:25.350 --> 00:34:31.980 Think to use AI also, for summarizing some ideas for finding, if you find, for 00:34:31.980 --> 00:34:37.980 example, seven reports of McKinsey, of other, and they're all brilliant, but you 00:34:37.980 --> 00:34:40.860 don't have time to, read everything. 00:34:41.475 --> 00:34:46.935 You use AI to find the particular messages that you, that are relevant for 00:34:46.935 --> 00:34:52.784 your product and, compile it, into reports, especially for you. 00:34:53.565 --> 00:34:58.695 And of course, I would really recommend to not forget about 00:34:58.695 --> 00:35:02.895 this resources that you found about the reports, especially if 00:35:02.895 --> 00:35:05.505 the reports are updated yearly. 00:35:05.700 --> 00:35:11.879 Please make a library for yourself and get back in a year for this new information. 00:35:11.970 --> 00:35:17.279 And, this will help you to update your strategy for this country or if 00:35:17.279 --> 00:35:18.960 you are going to another countries. 00:35:19.230 --> 00:35:24.600 Also, you don't need to, again, starting to find new resources. 00:35:24.629 --> 00:35:28.290 You can, use the same if they are covering different markets. 00:35:28.995 --> 00:35:35.325 So this will be, the main tips how not to drown into tons of, 00:35:35.325 --> 00:35:37.395 research and tons of information. 00:35:37.485 --> 00:35:40.575 And I think you should think about it as a cycle. 00:35:40.875 --> 00:35:41.175 Yes. 00:35:41.175 --> 00:35:47.085 So, okay, you have a final point, but then cut back to the research and 00:35:47.115 --> 00:35:52.485 check about new emerging trends and what you can do to expand in this market. 00:35:52.904 --> 00:35:56.654 Or if you're willing to go to another market already, also. 00:35:57.290 --> 00:36:01.759 You are getting back, but you already experiencing some of the research in 00:36:01.759 --> 00:36:03.979 some of the tool and resources. 00:36:04.220 --> 00:36:05.600 So it's kind of a cycle 00:36:05.959 --> 00:36:06.500 DS: for sure. 00:36:06.500 --> 00:36:06.799 For sure. 00:36:06.799 --> 00:36:11.689 And you can also use this to teach your new partners at this local markets. 00:36:11.689 --> 00:36:15.200 'cause they might be also not exploring data markets. 00:36:15.200 --> 00:36:19.100 so you can share this data with your new potential partner or client. 00:36:19.964 --> 00:36:23.444 Help them to sell your products more effectively using this 00:36:23.444 --> 00:36:24.645 data that you have gathered? 00:36:24.705 --> 00:36:29.565 OG: Yeah, we actually had the, example like this, our client, 00:36:29.625 --> 00:36:36.225 who is a producer of, gluten-free product, all natural, and they, 00:36:36.225 --> 00:36:39.734 um, ask for our help with research. 00:36:40.410 --> 00:36:45.149 And after that, they came to the market and they used this research 00:36:45.209 --> 00:36:47.399 as a advocacy tool, I would say. 00:36:47.399 --> 00:36:52.890 So they were, they were talking with a retailer and showing them, okay, you see 00:36:53.040 --> 00:36:58.379 at your market this niche is growing, it'll be growing over the next five years. 00:36:58.709 --> 00:37:03.060 So you will benefit, from working with us. 00:37:03.480 --> 00:37:04.620 So yeah, for sure. 00:37:05.895 --> 00:37:08.654 DS: Yeah, that's, the added value of partnership. 00:37:08.654 --> 00:37:09.134 Great. 00:37:09.195 --> 00:37:09.465 Great. 00:37:09.495 --> 00:37:13.545 Thank you for sharing your experience and helping, Ukrainian 00:37:13.995 --> 00:37:15.825 es, to be international. 00:37:15.855 --> 00:37:16.245 Thank you.