Abstract

Market research is an important first step for foreign companies considering Vietnam, providing insights into market demand, competition, regulations, and potential opportunities. However, understanding the market is only one part of entering it. Companies also need to identify suitable partners, establish business relationships, validate opportunities through direct engagement, and address practical implementation challenges. This article explores why market research alone may be insufficient and how complementary services, including business matching, business tours, and local operational support, can help companies move from market insights to actual business development. B&Company’s experience supporting Japanese companies and local governments illustrates the value of this integrated approach.

Beyond Market Research: Practical Steps for Market Entry

Market entry involves three connected stages: assessing the opportunity, validating business options, and implementing the chosen approach. The support required at each stage depends on the company’s objectives and readiness to enter Vietnam.

1. Assessing the market opportunity. Market research helps foreign businesses evaluate industry potential, understand competition, identify target customers, and assess regulatory requirements. It provides the evidence needed to decide whether to enter the market and which segments or business models to prioritize. Research may combine desk research with interviews, surveys, and field observations, depending on the questions that need to be answered.

Different Roles of Market Research and Business Support

Source: B&Company’s synthesis

2. Validating partners and operating conditions. Once a direction is identified, companies need to assess whether potential partners and locations meet their business requirements. Partner search and business matching support candidate screening, initial contact, and discussions about capabilities, commercial interests, and willingness to cooperate. Business tours and site visits can deepen this assessment through direct observation and face-to-face meetings. For example, factory visits help verify production capacity and quality control, while visits to retail outlets or potential investment locations help assess distribution coverage and local operating conditions. These activities turn a list of possible options into a clearer basis for partner and location selection.

3. Supporting implementation and follow-up. After selecting a preferred approach, companies need to translate discussions into agreed actions. Local support can assist with bilingual communication, negotiation coordination, administrative procedures, and ongoing follow-up with partners. Clear responsibilities, timelines, and regular communication help maintain progress after initial meetings and address issues as they arise.

Connecting these stages allows research findings to guide partner screening, field assessments to refine business decisions, and implementation support to carry those decisions forward. A coordinated approach also reduces repeated information gathering and provides continuity throughout the market-entry process.

An Integrated Market-Entry Support Process

Source: B&Company’s service framework. The process is illustrative; services can overlap and vary according to each client’s requirements.

B&Company’s Experience: Connecting Market Research with Business Development

Founded in Japan in 2001 and operating in Vietnam since 2008, B&Company supports Japanese companies and organizations through its offices in Hanoi and Ho Chi Minh City. We combine local market knowledge with a broad network of businesses, experts, and institutions to help clients assess opportunities, identify suitable partners, and move forward with market entry.

In 2025, our public-sector work included the Tokyo SME Support Desk Vietnam, the Kochi Vietnam Support Desk, and programs for Okayama Prefecture and JETRO. Activities ranged from market research and business consultation to partner searches, business matching, meeting coordination and trade-fair support, tailored to each program’s objectives.

Selected Public-Sector Market-Entry Support Projects Undertaken by B&Company in 2025

Source: B&Company

The Kochi Vietnam Support Desk demonstrates the scale of this support. During the 2025–2026 term, the Desk supported 18 Kochi-based enterprises and introduced over 600 potential Vietnamese suppliers, partners, distributors and customers. It also presented Kochi products directly to more than 100 Vietnamese companies, facilitating approximately 40 online and in-person business discussions. These activities helped participating companies gather market feedback and establish contacts for further commercial discussions.

Support also extends to exploring new areas of cooperation. In August 2026, B&Company helped coordinate a Kochi Prefecture delegation’s field survey in Quang Tri and meetings with Vietnamese authorities. By examining disaster-affected locations and discussing local needs, the delegation explored potential applications for Kochi’s disaster-prevention technologies, including erosion control and early-warning systems. The visit provided a basis for further discussions on solutions suited to Vietnam’s conditions.

Kochi Prefecture Delegation Surveys Disaster Prevention in Quang Tri

Source: B&Company

Implications for Companies Entering Vietnam

Companies entering Vietnam should plan how market research will lead to practical action, with activities tailored to their business goals. Those seeking suppliers may need technical screening and factory visits. Businesses targeting consumers may prioritize distributor searches, product testing and buyer meetings, while direct investors may require regulatory guidance, location assessments and local coordination.

Defining these needs early helps companies use research findings to select partners, allocate resources and prepare for implementation. Coordinating these activities also reduces duplicated work and keeps each stage focused on the same business objectives.

Conclusion

Market research helps companies identify opportunities in Vietnam. Taking those opportunities forward requires suitable partners, direct engagement and consistent local follow-up. Connecting these activities from the outset helps businesses make informed decisions and build relationships that support their market-entry plans.

Operating in Vietnam since 2008, B&Company combines local knowledge with teams in Hanoi and Ho Chi Minh City. Our services span market research, partner searches, business matching, business tours and operational support, tailored to each client’s objectives and stage of expansion[1].

[1] https://b-company.jp/services/

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