Market Entry strategies for International Business

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Small business organizations usually enter the global market in hope of selling in countries where such products and services are already being sold. This usually occurs through local distributors or joining with local business partners or sometimes selling directly through websites. The extent of risk and cost varies with respect to each method.

The first step in entering into a global market is conducting market research for the product and services. The information can be obtained from various statistics available online as well as from data sets from real statistics. By knowing about which territories have maximum exposure can help in preparing market entry strategies. Checking safety regulations in the area is also essential and if necessary modifications need to be done for the product.

One of the most simple ways of entering a foreign market is through websites which is very cost effective. The advantage of having a website lies in the fact that customers can access business information as well as purchase products at any time during the day. Changing the content of the website specific to the territory is also possible at a much lower cost than conventional marketing entry strategies.

Having distribution network helps in penetrating into a new market without investing much in logistics and local networking in a foreign land. Distributors usually buy products and sell them to those customers which have been acquired by them in earlier times. The distributors also will be having knowledge about the local market and contacts with key people.

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