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International development

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International  development Powered By Docstoc
					Whatever the reason you start to explore international expansion of your company, a
weak local currency, growth in emerging markets, or the need to tap into global pools
of talent & resources, it is crucial that the decisions you make in the early stages of
the international business development are made from a fully informed position.
Knowing how to prioritize potential markets and grow sales in a new country can be
critical for the realization of your business goals. A focused international growth
strategy is a must, and if you don’t have a good grasp of the issues, then it is
imperative that you acquire professional and qualified assistance. This strategy is a
multifaceted process, each step, while seemingly complex, can be accomplished when
broken down and understood as detailed below.
  The first step is to conduct market surveys or market research. This will include a
geographic survey to determine potential locations best suited to your particular
business. Market surveys will help to identify macroeconomic trends, import and
export trends, social and business factors as they relate to your goals, and competitive
benchmarking. The end goal being to select a short list of target countries for
international growth or expansion. Once a target country/city is selected through a
geographic survey, the next step is to conduct a detailed local dynamics survey. A
detailed local dynamics survey in the targeted country/city is used to specifically
determine the local business dynamics as related to customers, competitors, suppliers
and product/service attributes.
  Secondly, you will need to build local infrastructure, in the form of a local presence,
for the targeted region/city. Options for local infrastructure vary and can include a
virtual office, a physical office, acquisitions, joint ventures, franchising, licensing or
finding local distributors/resellers. The local infrastructure option chosen should
depend on the amount of control the company would like to have in foreign
operations , the company's understanding of the foreign market, investment budget,
growth goals and the successes/failures of competing firms entering the market.
  Finally, you need to establish a comprehensive local sales and marketing campaign.
This campaign can be achieved through direct marketing, media buys, sponsorships,
trade shows, a sales force, working with local agencies and devising a locally
appropriate go-to market/distribution strategy.

				
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