Global Marketing
a. In today's interconnected global economy, the question of whether or not to export seems academic. It nevertheless demands asking due to the substantial risk and resources called for in expanding sales internationally.
Pursuing export markets is recommended in a number of situations: demonstrated international demand for your products higher international prices for your manufactured goods moderate or slow domestic market growth with strong, unsaturated or growing markets abroad competitive pressures in your domestic market reducing prices and margins competitors leveraging their profitability in foreign markets to increase their market share in your domestic market relatively low labor or capital costs as compared with foreign manufacturers strategic needs: capital, technology, capacity, partners, government assistance, etc. intangible needs conforming with multi-cultural or internationally oriented corporate culture
If you choose to export, you will need begin by performing market research to evaluate the suitability of foreign countries for your export products. Then, if promising export markets are identified in this process, you can begin preliminary business discovery to determine if reliable and interested distributors, customers and suppliers exist in your target countries. Eventually you might initiate discussions with strategic partners whose contacts and market clout can support your export program. All of this information will provide you with the appropriate tools to enter the market or make a calculated postponement of your international expansion.
However, before you begin this effort, you should ask yourself the following questions:
Is my firm large enough?
Initial market research and business discovery are not costly, and a company can conduct such research with the assistance of regional experts, consultants or even internal resources. However, in the event that export promotion is justified, your company will
Pursuing export markets is recommended in a number of situations: demonstrated international demand for your products higher international prices for your manufactured goods moderate or slow domestic market growth with strong, unsaturated or growing markets abroad competitive pressures in your domestic market reducing prices and margins competitors leveraging their profitability in foreign markets to increase their market share in your domestic market relatively low labor or capital costs as compared with foreign manufacturers strategic needs: capital, technology, capacity, partners, government assistance, etc. intangible needs conforming with multi-cultural or internationally oriented corporate culture
If you choose to export, you will need begin by performing market research to evaluate the suitability of foreign countries for your export products. Then, if promising export markets are identified in this process, you can begin preliminary business discovery to determine if reliable and interested distributors, customers and suppliers exist in your target countries. Eventually you might initiate discussions with strategic partners whose contacts and market clout can support your export program. All of this information will provide you with the appropriate tools to enter the market or make a calculated postponement of your international expansion.
However, before you begin this effort, you should ask yourself the following questions:
Is my firm large enough?
Initial market research and business discovery are not costly, and a company can conduct such research with the assistance of regional experts, consultants or even internal resources. However, in the event that export promotion is justified, your company will