Free press releases distribution network?

More news: Economy
Agency / Source: IBDP, LLC

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!



United States Firms Focus on International Business Development - IBDP executive, Ena Garay, details four key steps for U.S. companies to penetrate and prosper in the international marketplace
United States Firms Focus on International Business Development

 

PRZOOM - /newswire/ - Miami Beach, FL, United States, 2007/01/15 - IBDP executive, Ena Garay, details four key steps for U.S. companies to penetrate and prosper in the international marketplace.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Economy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

U.S. exports continue to grow, but many American companies lack the international business know-how to capitalize on this potential source of increased sales and profits. Proliferating trade agreements and a weakened U.S. dollar have resulted in one of the most favorable export markets in decades. Foreign importers of U.S. goods report an increasing demand for U.S. products—from popcorn to pet food. The U.S. has enjoyed 11 straight quarters of increasing exports—yet with 95 percent of the world’s population residing outside of U.S. borders and an increasingly promising international sales outlook, experts are questioning why only 5 percent of U.S. companies are currently exporting. But how do we initiate and sustain growth in unfamiliar markets?

1. DEFINE STRATEGIC NEEDS
Tapping into new markets provides the opportunity for increased revenue and profits. However, this initiative needs to be consistent with the company’s overall strategy. Inconsistent, sporadic, or unfocused deployment of resources directed toward international growth can result in an underperforming initiative that soaks up limited resources with little return. Barriers to entry (duties, regulatory, and trademark restrictions) need to be identified and addressed. A SWOT analysis detailing the company’s strengths, weaknesses, opportunities, and threats will identify and help maximize the company’s strengths, minimize its weaknesses, and give focus to the international opportunity.
An international growth plan consistent with the corporate strategy will enhance the odds of success. Tactical aspects of international development such as sales, distribution, and marketing need to be addressed. International growth factors can be sufficiently different from the U.S. models that a lack of familiarity can dramatically reduce the chances of success. Above all, there must be clear direction, full management support, and dedicated resources.

2. SECURE APPROPRIATE ASSISTANCE
Small or medium firms initiating or expanding into international business will find the U.S. Government’s Department of Commerce (DOC) an enthusiastic partner in helping American companies succeed globally. This organization coordinates resources from across 19 Federal agencies to help American businesses plan their international strategies in an increasingly globalized environment. In an unfamiliar foreign market with confusing regulations, uncertainty, and risk, the DOC can help U.S. businesses navigate the overseas sales process and avoid hazards such as payment defaults and misappropriation of trademark and intellectual property.

The DOC’s commercial service provides a surprisingly actionable array of quality services including in-country market research, trade events and missions, trade leads, and introductions to prospective business partners. The Export-Import Bank and the Small Business Administration unite to help in the financing of U.S. goods and services exports to the international market, enabling companies to turn international leads into solid sales.

Firms specializing in international business development can help jump-start foreign expansion. These firms are groups of highly skilled, experienced professionals offering practical, cost-effective assistance to companies committed to maximizing revenue and profit potential through accelerated international growth. The range of services offered varies by firm, but overall they help companies conceptualize, implement, and manage large or small international business development projects. These services can range from determining the overseas market potential for a product to managing a firm’s export sales to identifying and qualifying foreign strategic alliances.

A company wanting to penetrate the international market needs to assign a fully dedicated resource to this initiative. This individual should be the linchpin connecting the organization’s resources, know-how, and culture to the international initiative. As the business develops, additional resources should be assigned to maximize the opportunity. These should be considered investments rather than costs.

3. DETERMINE MARKET ENTRY STRATEGY
A firm’s appropriate market entry strategy will largely depend on its level of international development. For a company just commencing its international development, market penetration via in-country distributor sales may be the fastest and most cost-effective way to enter a foreign market. Selling through in-country distributors is relatively low-risk and will provide valuable learning opportunities. Once the target country or region has been identified, a process that will naturally derive from the SWOT analysis, the selection process can begin. Various U.S. government agencies and trade associations can provide a wealth of data to begin narrowing the selection. Trade publications and events are also an excellent source. Factors to consider when selecting a market may include such criteria as regulatory environment, market size and potential, cost of entry, and competitive environment. To further narrow the possibilities, an in-country visit is required. Once there, the use of trade leads, competitive evaluations, local government assistance, and potential candidate interviews will provide additional information and insights. Major considerations in selecting a distributor are: willingness to assign a dedicated resource, market leadership or track record, marketing savvy, complementary and not competitive products or services, site inspection, and financial stability.

Penetrating a new international market is often perceived as an extension of the existing domestic business. Consequently, many American companies bypass standard business guidelines requiring rigorous market analysis. Only after performing thorough due diligence can one elaborate a service or product offering and accompanying marketing programs.

A company’s preferred mode of entry—in-country distribution, joint venture, merger, or acquisition—will depend on that firm’s primary objectives from opportunistic sales to positioning for long-term market-driven growth.

Economic globalization will increasingly lead to the creation of strategic alliances. U.S. firms must make sure that potential partners share short- and long-term objectives in order to reduce the divergence of ideas and efforts. Common values and shared business/ethical standards will enhance communications, transparency, and effectiveness. The partners should have complementary strengths and weaknesses to build a stronger and more effective alliance. Principles and processes for conflict resolution and the relationship must be drafted and agreed to by all parties concerned for the partnership to run smoothly.

4. DESIGN EFFECTIVE MARKETING
All markets have commonalities. However, effective international marketing begins with the awareness that markets are also different in ways that are not immediately apparent. The key is understanding consumers and identifying their needs through culturally specific market research. Focus groups can be especially effective in identifying the international consumer’s wants and needs. The advertising agency used in developing the offering should be local or have local representation. Employees with a thorough knowledge of market characteristics and idiosyncrasies will be particularly effective in communicating the desired message and creating and enhancing the brand image. Language skills and an affinity for different cultures are critical assets when marketing internationally.

Flawless execution is key. As a firm executes the international strategy guided by a solid business plan, it is important to celebrate milestones and benchmark against industry leaders.

Although not comprehensive, these four steps will help serve as a guideline for successful international market entry and growth.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Economy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Agency / Source: IBDP, LLC

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick PRZOOM - Press & Newswire Visibility Checker

 

Distribution / Indexing: [+]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Economy articles,
CATCH Visitors via Your Competitors Announcements!


United States Firms Focus on International Business Development

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name PRZOOM - Press & Newswire and LINK as the source.
 
  For more information, please visit:
Is this your article? Activate ALL web links by Upgrading to Press Release PREMIUM Plan Now!
|
Contact: Ena Garay - IBDPonline.com 
305-606-5679 egaray[.]ibdponline.com
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any IBDP, LLC securities in any jurisdiction including any other companies listed or named in this release.

Economy via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!




Read Latest Press Releases From IBDP, LLC / Company Profile


Read Economy Most Recent Related Press Releases:

Frost & Sullivan’s IKC Enables Companies to Assess their Financial Performance in Relation to their Peers, based on Top-Bottom Scores
Iran Economy Exhibits Renewed Optimism, Open for Investments Across Industries, Targets Export Markets Notes Frost & Sullivan
Elevated Investment of $55.6 bn in Infrastructure Development Anticipated for Kenya Finds Frost & Sullivan
Industry 4.0 Business Ecosystem to Change Dynamics in the Global Industrial Landscape Finds Frost &Sullivan
Frost & Sullivan Assesses the Investment Climate in India and its Impact on Next-Generation Investors
Frost & Sullivan Launches Malaysia Mega Trends Report in Collaboration with Malaysian Investment Development Authority
Austria’s Government to Pass New Tax Package
Global Leaders Identify Critical Issues to Overcome Economic Development Challenges At the Economic Development Innovation (EDI) Council Meeting
Russian Internet Remains Growth Hotspot in the Country’s Economy Finds Frost & Sullivan
Converging Industries and Smart Cities to Present Market Opportunities Worth $1.5 Trillion by 2020 Says Frost & Sullivan

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
 
NewswireToday Celebrates 10 Years in Business
Find business coaching, life coaching, executive coaching and corporate coaching, best selling coaching books, ...



PREMIUM Members


Visit  La Bella Bakery Artisan Bakery Arizona

Visit  JobsWare.com

Visit  Triggr & Bloom







 
  ©2016 PRZOOM — Limelon Advertising, Co.
Home | About PRZOOM | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneur newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today