International Marketing – International Market Entry Tips

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Many companies cannot afford to hire an International Business Consultant

However if you want to get involved in International Market Entry, you should be able to dispel the following myths

If we make a better mousetrap, they will buy it.

If it was always about quality, then why doesn’t everyone always buy the best product?

English is the universal language, so we can simply sell in English.
Does everyone in the client organization speak, read and write English?

Our labor cost is too high to market our product overseas.

Our price is too high for overseas markets.

Our skilled marketers can take on overseas markets.

If we define marketing as awareness, understanding and
Our in-house foreign nationals can sell to overseas markets.

Our local partners will handle all of the marketing.

The customer expressed all of the buying signs, and even said “yes” to our proposal.

We don’t need to invest a lot; our Web site gives us a presence.

If it worked here (in the United States), it will work there.

The firms that realize this quickly always will have the advantage.

The Market Entry Toolkit can help a firm understand and overcome these myths

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International Business Consulting – Threat in Foreign Markets

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Failure is the largest threat. Oveseas markets are an easy place to waste money. Foreign firms can fail in the foreign markets for many reasons:

Poor planning
     Lack of knowledge about the US market.

Bad marketing strategies
     No Market niche not found.
     No proper marketing campaigns.
     No support for channel partners and resellers.

Bad Advice
     Only 1 type of advice.
     The wrong consultants.
You need an International Business Consultant who understands what you are doing.
     No experienced business professionals.
     No negotiating assistance in the USA.

Bad sales strategy
     Sales not properly implemented or managed.
     Distributors are not selling correctly, or trained and incentivized.

For every challenge, Partners International provides a solution.

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International Business Videos – Chinese Firms Buying US Firms

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Chinese Firms are Buying US Firms. What are they really buying? Why are Chinese firms doing Global Business? How can I get smart about Chinese acquisitions in the USA?

Free, one minute international business advice brought to you by the International Business Minute

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Questions to Ask In International Marketing

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Imagine if you wanted to export pharmaceuticals to a country such as Rwanda. While the idea of international sales and global marketing might sound fun and sexy, there are several things to ask.

What questions might you have?

• What is your connection with the client? The danger in all trade deals is circumvention. Will that happen to you?

• Is the client the retailer as well as the importer? If Rwandan pharmacists are also the importers, do they understand importing (including all aspects of

trade, shipping, financing, warehousing, international payments, import compliance)?

• How many people are in the transaction? How many people need to be paid from this deal?

• Are you going to run into any legal problems in right here in the United States? Is permission needed from any government agency (or the manufacturers
themselves) for you to export drugs?

• What paperwork is will be required in the United States? And who will makes sure that there is
compliance?

• What is the financial model behind this? Can you “follow the cash flow” to determine this project’s feasibility?

• Will local governments require that you use one of their distributors?

• Is this a potential regulatory nightmare?

• How with the Rwandans use international payments?

• What kind of marketing, sales or IT support will the Rwandans need from you?

• Is bribery necessary within Rwanda? If so how will you handle the FCPA (Foreign Corrupt Practices Act), which prohibits U.S. companies from paying bribes?

• Are shipments insurable in case of damage or theft? Which firms ship to Rwanda and what are their rates? Will warehousing be needed?

• When do you get paid? Understanding what triggers your payment, who releases it and when, is crucial.

• Unless you can hold the pen, meaning you control all the money coming in and going out. If you need to be in the middle of this transaction, can you collect all the money and pay it out when appropriate?

• The final question is: Do you really know how to do international trade deals?

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International Business Videos – How to Use an Interpreter Overseas

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One Minute Global Business Videos. See the Video below and get free international business advice on how to use an interpreter. The is brought to you by the International Business Minute

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Bad Business Deals – Awful Deal and Awful Products

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Tired of Awful Deals? Can’t Handle Moronic Sales people, bad customer service, and bad products? Been offered awful investments?

Take a look at www.awfuldeals.com

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International Marketing – Key Success Factors

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Here are more key success factors for international market entry

A) The correct market champions — Companies leap to the conclusion that success at home will guarantee success abroad. “Jim Bob did such a good job selling in Nebraska , we’re giving him Tokyo.”

B) cross cultural training. Does your staff understand hiw to nuances of do business in the countries you’ve chosen?

C) A roadblock map — What roadblocks exist to your success, such as cultural, legal, political, infrastructure, personnel and funding?

D) Interest in more than the just the business. Do the people involved really enjoy the countries in question? Are they invested personally in learning some of the languages , the customs, the food, the arts? When people love (eg) India, they’ll have a higher probability of succeeding there.

e) Feedback on market conditions — Do you have a system which gathers and distrubutes market information?

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International Marketing – 5 More Keys to Success

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(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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International Marketing – 5 Keys to Success

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Here are5 keys to having success in international markets
An international market-entry plan contains hundreds of elements, but here are the first 5:

(1) An appropriate planning time — companies approach foreign markets and cut corners on planning time. Executives won’t dedicate time, hire correct marketing resources and spend the money to plan a properly. The idea of getting on a plane and getting a deal simply doesn’t work overseas.

(2) An actionable goal — A goal is a number. Goals can be sales volume, number of accounts, market share, points on customer satisfaction surveys, margin, profit, ROI or other indicators. markets are often approached with no goals that can be explained.

(3)realistic objectives — where does the company wish to be, usually regarding market position. Are you the low-cost supplier, the market leader, a luxury position in the market? Are you the convenient choice? Do you want profit or market share?

(4) A logical market screening mechanism — Buzz phrases such as “China’s 1.5 billion people” or “Denmark’s 4.2 million citizens” don’t define which markets to approach. Use a matrix that makes sense.

(5) An understanding of the market conditions — Is themarket organized? How do you distribute? distribution What are the price points and who are the major players?

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