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Entering Foreign Market

In: Business and Management

Submitted By angelnh87
Words 1515
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Entering Foreign Market
So you are considering entering the foreign market. Your company has been doing well in your home country and you want to approach another level of trade and sales. When it comes to a business entering a foreign market many things must be taken into account. Where, when, and how? Each question must be looked over carefully before making any decision. Where you decide to enter in the foreign market can help or harm your business. When and how you plan to enter is very important as well. You do not want to enter a country’s market at a very bad time because they may not be the best route for your business to take unless you actually plan to help and provide a service to whatever problem is going on within that country. Throughout this report I will explain where, when and how to enter the foreign market and why each is important.
First, when considering the option of entering a foreign market the first thing you want to do is take a good look at your business and begin the process of deciding where you should consider making a presence in the foreign market. I believe it is important to start off with entering one country first before taking on the whole market at one time. You must remember factors greatly vary by country to country which can greatly affect the ability to successfully engage in business. So in other words the same thing that worked for you in the United States may not work for you in another country. It is smart to study the foreign market and figure out which country could benefit greatly from your service or product. The “where” is important because a country you could be consider entering may already have enough supply of your product or service. Foreign competition must be taken into consideration as well. When considering the “where” for your business it is important to look at the trade opportunities and barriers that...

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