It's commonplace that most companies get into foreign markets more or less by accident. They place an ad in a trade magazine, get an inquiry from a foreign distributor, and sign him up after a little preliminary checking thinking “why not?”. Or they meet an agent at a trade show, have dinner together, hit it off, and enter into a contract. Or they follow what we call the “Uncle Bill” pattern: Somebody’s Uncle Bill knows somebody who knows somebody who… And so on. Sometimes companies get lucky and get a good result from these approaches. But usually, it is far less productive than it should be.
The whole point of the international market entry process we have developed is to be systematic. It is a process which reduces the probability of error, and therefore increases the probability of success. It’s almost like a sporting event. The team that makes the fewest mistakes wins. The same is true in entering foreign markets. The company that makes the fewest mistakes is the most successful.
In this section we present a snapshot of the process. It represents a composite picture based on years of experience with numerous companies in numerous countries. But don’t be daunted by it. Because it is a composite, not all will be relevant to you. Pick and choose what you need. But keep in mind the total process as context. Note that some components, though important, can be very quickly accomplished.
If you want to talk about the process and where you fit in, give us a call. We will be happy to help you think through the issues with no obligation whatsoever.
Below are brief descriptions of our many services. For more detailed information, click on the service name, or accompanying icon.
Phase 1: Analysis
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Company Position |
Vision | |
Objectives | |
Product & market position | |
Technical strengths, edge | |
International experience | |
Support capability |
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Initial Strategy Concept |
Where to go | |
How to go | |
Initial steps | |
Decision points |
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Global Scan |
Scan regions or world for best target markets | |
Set priorities and starting point |
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Market Research |
Size, trends, niches | |
Distribution analysis | |
Competition & pricing | |
Buyer analysis | |
Supply/demand balance | |
Legal & social environment | |
IP protection |
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