International Marketing – 5 More Keys to Success

(6) A regulatory strategy — Which governments will help you, and which will block you? Are you in touch with local leaders when necessary? will your own government allow you to sell in a foreign market? Are there any strings attached?

(7) A competitive analysis — Who are you displacing by being in the market? Who will try to block you? do you have advantages over your competitors?

What are your rivals doing to price, promote, distribute and enhance their own product?

(8) A true understanding of your customer — What are your customers’ buying habits? Who are the customer groups? How will you approach your new clientele?

What motivates clients to buy? Are customers open to the idea of new market players?

(9) A genuine mode-of-entry. What will be your way into this market? What support will your salespeople need? Will you sell directly or through distribution? are there cooperative opportunities with competition?

(10) Realistic expectations — Has your firm been educated in the time and difficulty of this market? Each market needs its own study, as each market has its own characteristics.

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