Entering a new market means looking out for many factors where consumer preferences are always the top priority. It is not an easy task to enter a new market as for a business there are many factors which have their own importance. But first of all, the thing you need to analyze is the potential of your target market. In case you are targeting the Middle Eastern market, not only do you need to get to know about the market potential but also the language. So for communication you need help from an Arabic translation company. One thing you need to keep in mind is that whenever the prospect in a new market arises, translation is a must thing.
But along with translation, there are certain other things. In this read, we are going to talk about those things. We will also elaborate the importance of the Middle Eastern market and how lucrative this marketplace is.
The Middle Eastern Market
The geographical location of the Middle Eastern market is in such a way that it lies in two continents, Asia and Africa. Being part of two continents makes the Middle Eastern market different from others. The countries which are part of this region are rather religious. Here the main religion is Islam, which inculcates Sharia law. So there are certain rules and regulations which are imposed on Middle Eastern countries because of their religion. Many political and economic reforms also make this market stand out. Other than these factors, this market is exceptionally lucrative and profit generating. Oil reserves are abundant in nations like Kuwait, Saudi Arabia, Iran, Iraq, and the United Arab Emirates.
These nations are the world’s largest producers of oil, which they distribute globally. Russia and the United States also have their oil reserves, but the oil produced in the Middle East is not only very great in quantity, but also in quality. Whether it’s luxury goods or high-end fashion products, the Middle East has it all.
Middle East, Its Languages and Translation
Not only is the Middle Eastern market rich in economy and lucrativeness but also in language and culture. Here many different languages are spoken among which Arabic, Persian, Turkish, Hebrew, and English are spoken the most. So when foreign businesses target this market to conduct their business operations, they need language as their powerful asset. Of course, we humans use language to communicate and convey our feelings to other fellow human beings. In the case of a new market, there is a visible language difference which can hinder communication. In order to overcome these linguistic as well as cultural barriers, translation is used as a bridge.
For instance, if your business is targeting Saudi Arabia to launch its luxury apparel business, the Saudi Arabian translation service is what you need. Similarly, if Kuwait is your target country, Arabic translation is your magic tool. Arabic is the most spoken language in the Middle East which is why Arabic translation should be important for you.
Creating A Market Strategy
When you have decided to enter the Middle Eastern market, you need to form a market strategy that should earn you the trust and attention of the Middle Eastern audiences. An effective market strategy means understanding what your audience needs while using the right marketing channels. It is vital to create a great story for your brand so that when you try to converse with the audience, they respond to you.
Understanding the Middle Eastern Culture
As mentioned earlier, the Middle Eastern culture is very religious based on the fact that they are more religiously oriented. Islam is the main religion here. So your market strategy needs to be one which is not only linguistically but also culturally relevant and acceptable for the audience. For instance, due to the inculcation of the Sharia law in the Middle East, interest-based financial transactions are prohibited for businesses. So if your foreign business revolves around this interest-based system, you need to cancel it so that the audience doesn’t avoid your business.
Internet Penetration
The internet penetration rate is approximately 77% in the Middle East. The remaining 23% still prefer going to stores and malls. These 23% are mostly millenials who have the habit of buying from physical stores. So your business must target the 77% population who are addicted to their phones. By starting advertisements and online campaigns, your business can cater to these internet users and capitalize profit.
Final Words!
To sum up, the Middle Eastern market gives your business access to both Asian and African continents. With the help of translation, your business’s entry becomes easy in the foreign marketplace. Your business needs to make a marketing strategy that prefers the culture and language of the Middle Eastern audiences and that’s how your brand can be successful.
