Market Entry and Development Archives

Unlocking Growth: The Advantages of Tailored Market Research

In the dynamic landscape of business, understanding your market is the key to staying ahead of the competition. Often, the responsibility of comprehending markets falls under the umbrella of sales and management functions within a company. Export managers embark on extensive market research for new entries, while business development managers craft presentations loaded with facts and figures to map out potential sectors. The question then arises: if in-house market research is feasible, why invest in a custom-made project from a professional consultancy firm? Is it worth the budget, especially considering the perceived expense of consultants?

The Need for Professional Support:

In reality, the business world is a bustling arena, resembling a daily competition where numerous tasks demand immediate attention. Amidst this chaos, ideas and opportunities may linger on your to-do list, often forgotten or postponed. Worse yet, competitors might outpace you, seizing success in unexplored territories. This is where the support of professionals becomes invaluable. Consider this – what if you could tap into the expertise of a consultancy firm specializing in desk research, stakeholder interviews, data analysis, and reporting? Here’s where dedication and experience become differentiating factors.

Efficiency and Expertise:

Professional firms efficiently handle time-consuming tasks, including reaching the right respondents through local researchers. The benefit extends to avoiding cultural barriers during data collection and ensuring accurate analysis tailored to the nuances of local markets, especially crucial when dealing with language and mentality differences in foreign markets.

The Effectiveness of Custom-Made Research:

A custom-made research project proves highly effective. It not only provides the precise market data you need but also furnishes a roadmap, diverse scenarios, SWOT analysis, and more – everything necessary for your subsequent steps in that market. So, it’s not just about ordering market research; it’s about defining what you’re gaining with the project.

Ordering Growth Tools:

Instead of asking, “Why should I order that market research?” consider the more pertinent question: “What am I ordering with a market research project?” It’s not just about data; it’s about buying time to focus on core tasks, securing straightforward answers to specific questions, and acquiring a professionally managed project that evaluates from all angles, managing risks effectively. In the end, it’s about gaining a local partner for brainstorming, challenging ideas, and providing flexible support whenever needed. Essentially, you’re ordering a powerful tool to fast-forward your business growth. You can read more about our market research offering here.

Get In Touch With Us

Berna is the Head of Competence Center – Research Services.

She joined FMC Group more than 14 years ago and supported various international companies for their market research, partner search, lead generation, opportunity screening, and market visit projects. She has been managing the market research department and international projects since 2011.

Before joining FMC Group, Berna started her career as Key Account Manager at Beiersdorf – tesa Turkey. After that, she fulfilled different business development and market research positions in the USA, the UK, and Turkey.

Berna studied Global Business and Management at the University of California Santa Barbara, USA, and holds an M.Sc. & B.SC. in Chemical Engineering from Istanbul Technical University. She is fluent in English and Turkish.

Ms. Berna Y. Gurleyen

Head of Competence Centre-Research Services

+90 542 559 25 86
b.gurleyen@fmcgroup.com

Contact

March 5, 2024/by Berna Gürleyen

Navigating the Maze: Revealing Market Research, Marketing Research and Business Intelligence

Market Entry and Development

In the ever-evolving landscape of global markets, the quest for insights is a universal language spoken by businesses seeking growth and success. Since our establishment in 1999, we’ve been receiving research requests from around the globe daily. But here’s the twist – the terminology used can be a linguistic labyrinth, especially when communicating in different parts of the world. “Market research,” “market analysis,” “marketing research,” “market insight,” “market study,” and “business intelligence” are a few examples that are thrown into the mix interchangeably. It’s easy to get tangled up, but fear not; we’re here to untangle the threads.

Defining Market Research:

Let’s take a step back and examine different definitions of market research from trusted sources like Investopedia, Cambridge Dictionary, and QuestionPro. Each offers a unique perspective, highlighting the diversity in how these terms are understood:

Investopedia defines market research as “the process of evaluating the viability of a new service or product through research conducted directly with potential customers.”
According to the Cambridge Dictionary, it involves “the collection and examination of information about things that people buy or might buy and their feelings about things that they have bought.”
QuestionPro focuses on “the collection, analysis, and use of market intelligence and market statistics,” emphasizing its relationship with one of Marketing’s four Ps – Place.

Decoding the Difference: Market Research vs. Business Intelligence in Global Markets

Now, let’s unravel the mystery between market research as marketing research and market research as business intelligence. While these terms are often used interchangeably, they represent distinct concepts. Marketing research is a broad concept, diving into understanding target markets and all aspects of product development and placement. It dives deep into consumer behaviors, motivations, and preferences through surveys, interviews, and observations. It requires further in-depth analysis of the data collected for accurate insights.

On the flip side, market research as business intelligence paints a broader and more holistic picture. It involves researching a market or business segment to grasp key aspects like market size, shares, stakeholders, market structure, sales channels, competition, trends, forecasts, and more. Business intelligence is the key to successful market entry and growth, especially in foreign markets where a comprehensive analysis must be done with a local understanding. This is where FMC Group shows its competency with 20+ years of experience in Turkey, the Middle East, and North Africa.

Conclusion:

As we navigate the complex realm of global business, “understanding” is crucial. No matter what the terminology is having the required insight plays a unique role in guiding businesses toward informed decisions and successful ventures. Stay tuned as we dive deeper into the dynamics of acquiring practical business intelligence for your business.

Get In Touch With Us

Berna is the Head of Competence Center – Research Services.

Ms. Berna Y. Gurleyen

Head of Competence Centre-Research Services

+90 542 559 25 86
b.gurleyen@fmcgroup.com

Contact

March 4, 2024/by Berna Gürleyen

What are the Common Side Benefits in Turkey

Market Entry and Development

In Turkey, there are some common side benefits which may not be common in other countries. Some of our European customers are surprised when they hear that companies provide shuttle service for commuting, or lunch allowance. Side benefits can be as important as the salary for an employee to accept an offer; hence, a foreign company should understand the local practices well.

Company car

Company car is provided mainly to the executives of sales departments as well as the field sales force. For employees of the top managerial level, company cars, sometimes even chauffeur-driven, are customary as a status symbol. The brand and model is determined according to the position’s level.

Employers usually work with fleet leasing companies, paying a fixed monthly amount including insurance and maintenance costs, as determined in a long-term contract. Paying a car allowance instead of providing a company car is not a common practice in Turkey, and most employees do not accept it. Employees are usually allowed to use the car for private purpose under certain conditions.

Transportation from/to the workplace

For the positions where company car is not provided, employees’ transportation to and from the workplace is usually taken care of by the employer, either through the payment of a transportation allowance or by organized bus transportation from/to certain collection points or their homes. This benefit is not provided for remote positions, but for hybrid positions either public transport or taxi costs are covered according to the number of office days.

Private insurance

Since the benefits of the Turkish social security system frequently do not meet the expectations of the employees,regardless of the level, white collar employees often lay claim to supplementary private health insurance. As almost all multinational companies offer it to their employees, it can be a meaningful extra benefit for qualified employees to ensure long employment with the company. Management positions are usually offered private insurance for the family as well.

Lunch

It is an almost universal practice in Turkey that companies provide lunch to their employees. There are different systems: Either a free meal is served in the company cafeteria or kitchen, or food is ordered from outside at the company’s expense, or a meal card is provided which can be used in various restaurants. As meal cards are not allowed to be used in shopping in supermarkets, some companies pay the same amount as cash for the benefit of the employees. Should the paid amount exceed the limit determined by the tax office, the difference must be taxed as fringe benefits together with the salary.

Mobile phones

The allocation of mobile phones is being handled analogous to company cars, meaning that it is relevant for top managers, executives of the sales department, and the field sales force. Besides, this benefit can be offered to other positions depending on the communication needs.

Additional Benefits

Besides, additional benefits granted by the employer, particularly when they have a personal touch, are popular and common practice in many Turkish companies. Employees can be motivated strongly through small gifts or additional payments at the New Year, Bayram (religious holidays), or on other occasions. After the pandemic, home office support has become common for remote positions, such as support for internet and electricity costs, or equipment. Besides, some companies provide contributions to the private pension system, which provides additional income to retirement income as a complement to the social security system. Fitness center membership, birthday leave, or psychological support can be alternative benefits.

FAQ

Which company car brand should we choose?

There are both locally manufactured and imported car models in Turkey. Passenger cars are relatively expensive in Turkey due to the high excise duty. The leasing fee depends on the segment of the car, if it is B, C or D, which should be chosen according to the level and needs of the position. Particularly in certain sectors, the car brand can be important for the prestige of the company as it may be associated with the brand image of the company. Hence, it should be chosen by taking into account the local perceptions.

How much should be the lunch allowance?

The tax-deductible lunch allowance is TRY 170 per day in 2024. Companies can offer higher amounts depending on the position, their sectors, and their location. Due to the high inflation and increasing food prices in Turkey, this important benefit should be regularly updated.

Get In Touch With Us

Emrah Ülkü is the Project Manager responsible for the recruitment projects in Turkey.

He joined FMC Group in 2011 as a consultant to carry out market research projects. Since 2017, he has been leading recruitment projects for our international clients from various industries and continues to support market research projects.

Before joining FMC Group, Emrah worked as an Economist at the Industrial Development Bank of Turkey (TSKB) between 2004 and 2008, where he participated in corporate lending and corporate finance projects and carried out various market analyses. Between 2008 and 2011, he worked at the Investment Support and Promotion Agency of Turkey (ISPAT) as a Research Analyst.

Emrah holds a BA degree in Economics from Koc University, Turkey. He is fluent in Turkish & English, and upper-intermediate in German.

Mr. Emrah Ülkü

Project Manager

+90 212 363 80 54
e.ulku@fmcgroup.com

Contact

March 4, 2024/by Emrah Ülkü

Recruiting Talent in Turkey: What International Employers Need to Know About Hiring Turkish Employees

Market Entry and Development

As the world economy expands, more businesses are turning to foreign markets in search of bigger development prospects. Recruiting and using local workers is essential to conducting business overseas. It is crucial for global employers to understand the main advantages and considerations when recruiting employees in Turkey.

Advantages of Turkish Employees

1. Lower Labor Expenses

In contrast to more developed areas such as North America and Europe, Turkey offers lower labor costs. This enables foreign companies to lower labor costs and increase profitability.

2. High Quality Talent Pool

The education system in Turkey has generated a well-educated and skilled workforce. Each year, numerous graduates from Turkish universities join the workforce with advanced degrees in technical fields and information and communication technologies. This provides employers with a broad selection of qualified candidates possessing diverse marketable skills.

Moreover, Turkey is known for its industrious population that is ready to invest the necessary time and effort to deliver high-quality results for their employers. This makes it an excellent location for companies valuing a strong work ethic and dedication to their employees.

3. Similar Cultural Background

Turkey is an important country that forms a bridge between the continents of Asia and Europe. It bears influences from both Asian and European cultures and, due to its geographical location, also reflects traces of Middle Eastern and Mediterranean cultures. Hence, it is not complex to understand Turk’s cultural context and lifestyles and it enables smoother localization and recruitment process.

4. Language Advantage

The country’s youthful and highly skilled labor force greatly contributes to its appeal to foreign businesses, many of which choose to surround themselves with competent people who can foster their expansion. Turkey is a country with a large young population. A considerable part of the young population speaks English well that makes them more competitive working with global firms. Graduates of German and French high schools in addition to German and French Turks who have migrated back to Turkey constitute a significant pool for these languages.

5. Convenient Time Zones

Even as companies embrace remote work, the location of employees remains a key factor. Effective communication is vital for teams, and it can be challenging when there is minimal overlap in working hours. Turkey’s proximity to European time zones, with a local time of UTC+3, supports robust communication essential for success in remote work setups.

Considerations

Understanding Local Laws and Regulations

Companies must research local labor laws and policies before hiring. The hiring process must also comply with regulations to protect employees’ rights.

In Turkey, hiring practices are governed by strict laws. It takes a full-fledged business and the appointment of HR and accounting experts to observe them. If you do not want to be involved in such topics, FMC Group can hire the employees on your behalf. But FMC Group can also support you with company formation and financial management in Turkey.

Cultural differences: Relationship-Building and Hospitality

Trust in commercial operations and interpersonal connections are highly valued in Turkish culture. Success requires forging a solid rapport with possible clients or partners. Building human ties through in-person interactions, get-togethers, and cordial dialogue promotes credibility and confidence.

It is more respectful and conducive to more seamless commercial dealings to take the time to comprehend and value Turkish cultures, traditions, and social norms. Turkish hospitality and friendliness are fundamental to the country’s culture. It is not uncommon for commercial conversations and discussions to take place over lunch or supper. These casual settings offer chances to build relationships, establish personal connections, and foster an atmosphere that is favorable to candid conversation.

Appreciating and participating in this aspect of Turkish business culture can help foreign companies build lasting connections and navigate the market more effectively.

Training and Management

After hiring, the appropriate management and training should be provided. Training on company culture, procedures, product knowledge, etc., is part of this. To guarantee efficient work completion, effective management methods must also be established.

To conclude, collaborating with FMC Group consultants or advisors familiar with the Turkish market and culture can prove highly advantageous. Our experts can provide valuable perspectives on local business practices, assist in navigating cultural intricacies, and offer advice on effective communication strategies. Their knowledge and connections can play a crucial role in enhancing the success of foreign companies established in Turkey. By teaming up with a reliable local partner, international businesses can concentrate on their main operations, knowing that their requirements are being managed professionally and competently.

Get In Touch With Us

Zeynep is Sr. Talent Acquisition Consultant based in Turkey.

She has 5 years of experience in Recruitment and Human Resources Development in different multinational companies and sectors ranging from Marketing to IT. She started her career at Ketchup Loyalty Marketing Solutions as an HR Specialist and then joined the WaveTel ApS, in Spain, an International Recruitment Agency, providing recruitment services in ICT field.

Before joining FMC Group, she worked as a Talent Acquisition Specialist at Invicti Security, an American International web app security company.

Zeynep holds a BA degree in History from Bogazici University, Turkey and a Master’s Degree in Business & Strategic Management, Spain. She speaks Turkish and English fluently.

Ms. Zeynep Çetin

Sr. Talent Acquisition Consultant

z.cetin@fmcgroup.com

Contact

March 1, 2024/by Zeynep Cetin

Power of Strategic Insight: How to Design a Successful Market Research Project in Turkey

Market Entry and Development

Since our establishment in 1999, our mission at FMC Group has been clear – decoding the complexities of foreign markets for businesses around the world. Each day, we receive research requests from a diverse global clientele, all with a common goal: a drive for understanding and navigating foreign markets. In this blog post, we’re offering guidance on designing a successful market research project and shedding light on how tailored services can be the key to unlocking your business’s potential in complex markets like Turkey.

Start by Asking the Right Questions:

At the heart of what we do is a simple yet powerful concept – detailing all the information that you “must have” and “good to have” about the market that you are targeting. You can come up with a list of questions. Do not forget to highlight what you would like to achieve, your goal in the end because there might be an easier way to reach there in Turkey! Following this, comes the help of the local insight. Together, we can design the best way to address those questions to reach your goal. A successful research project should plan at least the availability of desk research within your sector, identify the pertinent market experts and key players to engage with, and establish a timeline aligning with the major project milestones. Whether you’re grappling with customs regulations or seeking insights on the untapped potential of your product in a specific market, we’ve got you covered. From straightforward queries to complex strategic planning, we provide support from the research phase to crafting a compelling PowerPoint presentation in your preferred format. However, it all begins with aligning your business knowledge with our local understanding and making a real Team effort from the start.

A Comprehensive Approach:

In Turkey, don’t just stop at the surface, deep dive into markets, sectors, industries, and even the most niche segments. Confirm the findings. Acquire the point of view from all angles. The approach should go beyond desk research, incorporating in-depth interviews with industry experts and active players. The ability to identify and access the decision-makers is a talent that we have developed over the years based on trust. By understanding market dynamics, reliable facts, and up-to-date information on market segments, a comprehensive view that empowers your strategic planning can be reached.

Understanding the Current Competitive Landscape:

Market intelligence is not just about facts and figures; it’s about understanding the whole competitive environment. Market dynamics can change very fast, especially in Turkey, and it is vital to access current and up-to-date information fast. An independent and neutral eye can also provide transparency. Such intelligence can become the cornerstone of your strategic planning, giving you a competitive edge in developing and growing your business.
Tailored Solutions for Success:
Think of our services as pieces of a puzzle. Together, we can create a tailored combination specific to your unique needs. Whether you operate in B2B or industrial segments, our extensive experience in Turkey and also other countries in the Middle East & North Africa positions us as your strategic partner for global success.

Take the Next Steps with Us:

If you’re ready to take your business to new heights, we’re here to guide you. Our involvement doesn’t end with providing insights; we offer a roadmap and flexible support during the implementation phase. Direct any questions or inquiries to me at b.gurleyen@fmcgroup.com. Your journey to global success begins here – let’s find the right combination for your business puzzle.

Get In Touch With Us

Berna is the Head of Competence Center – Research Services.

Ms. Berna Y. Gurleyen

Head of Competence Centre-Research Services

+90 542 559 25 86
b.gurleyen@fmcgroup.com

Contact

February 29, 2024/by Berna Gürleyen

Which Recruitment Agency Should I Select for My New Company in Turkey

Market Entry and Development

Did you know that there are around 700 licensed recruitment agencies in Turkey? Which should be the criteria to select the one most suitable to your needs? Particularly if you are new in the market, you will certainly need a reliable local partner.

FMC Human Resources is our brand under the umbrella of FMC Group, specialized in recruitment services. We believe that we provide an outstanding service thanks to our corporate standards and qualified consultants.

A Recruitment Agency Which Can Really Understand the Needs of International Companies

Companies may use internal or external sources to hire new employees. Which one should be preferred is of course a budget matter at first and depends on the availability of internal human resource departments. Companies should not ignore another crucial factor: The contribution of an outsider’s viewpoint, to make objective evaluations on how people and companies fit together. The main target in a recruitment project is not finding “the best candidate” but finding “the best match”. To do that, the recruiter should really understand what you are looking for.

Starting from the first message or meeting where our communication begins, we have this goal: To Understand. Particularly in our detailed kick-off meeting as the first step in our process, we will be asking many questions not only to understand the job description and the required qualifications, but also your global presence, company culture, if there is any history in the local market, what the position can offer to the candidate, as well as your special preferences for the recruitment process, as we can create a tailor-made solution for your needs.

Our kick-off meetings usually last one hour so that we can efficiently go over all the details at the beginning and do not disturb you afterwards. We know that late questions cause time loss for everyone in a recruitment process.

Our English, German, and French speaking consultants are ready to support you as soon as we receive your request.

A Recruitment Agency Experienced in New Organizations

New organizations bring opportunities and challenges together. First employees of a company have higher chances to get promotions later. Besides, it makes it possible for an employee to experience very different tasks and disciplines, which would not be possible in larger organizations with already established departments where everyone has a particular focus. As not everyone fits to new organizations, with our expertise in this field, we explain all these challenges and opportunities to the candidates well and identify if they are ready and motivated to work in such an environment.

A Recruitment Agency Which Can Really Understand the Needs of Candidates

A good salary is not the only reason for a job change, and usually not the only long-term motivation source for an employee. A good leader knows that each employee gets his or her motivation from a different thing. Similarly, a good recruiter knows that the motivation for a particular job varies. If the position cannot satisfy the employee in the long-term, even when the position is closed, it cannot be called a successful recruitment. We know that to overcome this problem, our focus in our communication with the candidates should be: To Understand. Particularly in our in-depth interviews, we ask questions related to the experience, skills, preferences, and goals of the candidate, to make sure that we have a clear picture of what the person is looking for. It does not stop there, as we continue with this purpose in all our calls, emails, and messages, both before and after other steps in the process.

A Recruitment Agency Which is Reliable and Transparent to Both Parties

It may be difficult for an internal hiring manager to overcome subjectivity and operational blindness. A good recruiter can enlighten hiring managers so that they can objectively see if a candidate is really a good match for the company or not. This is only possible in a transparent communication with a reliable recruiter.

A recruiter’s job is not only screening the resumes and forwarding to the client the ones which meet the qualifications listed on the advert. When informing the hiring manager about the candidates, all strengths and weaknesses of candidates, as well as question marks and risks related to them, should be put into a well-structured report in a clear, concise and honest way. We would like to underline the word “honest”, because a recruiter should never promote a candidate in order to close the project as soon as possible but should always consider the long-term sustainability of the relationship between the employer and the prospective employee. He should show empathy and act as if he would be in the position of the hiring manager to work with that employee, to see what benefits and harms the person can bring with. Afterwards, all the comments on the candidate’s skills and character should be put in front of the client as an objective analysis. The recruiter should not be afraid of underlining negative points about candidates and should keep in mind that showing the reality as it is will not only ensure identifying the best matches, but also help the recruiter to build a trust relationship with his client.

Similarly, the shortcomings of the position to satisfy an overqualified candidate should also be highlighted. There are many candidates who accept job offers even though they are not exactly satisfied with the job definition or salary package. They do this not to remain unemployed, and later accept another job offer whenever they get the opportunity. To eliminate such job hoppers, a recruiter should ask himself if he is convinced about the motivation of the candidate for the position and if this is really a “best match”.

We are self-confident and courageous enough to remain honest in the process, even if it costs us a few more weeks to eliminate some candidates and find new ones. We know that Turkey has a large and good talent pool, and we can identify sooner or later the right people for our clients.

Reference check is a crucial step in our process to ensure reliability. It can be a standard step at another agency to fill in the blanks, but we do it again to really understand if the references feel good about the employee or if there is any question mark, which we can identify in our interviews with them. We provide a detailed reference report following those interviews, including all their comments word by word.

A Recruitment Agency Which Has a Long History and Good References

Do you have more than 20 years of experience in hiring in Turkey? We do. We build long-term and trust-based relations with our clients, guide them with our expertise during the whole process, foresee and prevent problems before they occur; hence, most of our clients continue to order new positions. We appreciate their trust in our work and pay utmost attention to keep the same quality level.

A Recruitment Agency Which Offers Not the Lowest or the Highest Fee

A recruitment process has certain costs for the agency. Both manpower and advert costs are in an increasing trend. There is tough competition among the agencies, and we believe that we offer competitive fees. We are not at the bottom or top of the market. We believe that our fees are reasonable, considering that we use different job boards for our ads, allocate a considerable amount of time for our interviews and direct search, provide several months of warranty after the person starts working, and more importantly, we allocate the best consultants in the market to your project.

Get In Touch With Us

Emrah Ülkü is the Project Manager responsible for the recruitment projects in Turkey.

Emrah holds a BA degree in Economics from Koc University, Turkey. He is fluent in Turkish & English, and upper-intermediate in German.

Mr. Emrah Ülkü

Project Manager

+90 212 363 80 54
e.ulku@fmcgroup.com

Contact

January 5, 2024/by Emrah Ülkü