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Challenges faced in a foreign market

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Associate Professor HOD
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  1. Introduction
  2. Profile of potentials
  3. Exporting
    1. Advantages of exporting
    2. Disadvantages of exporting
    3. Methods of exporting
  4. Factors affecting choice of market entry
    1. Market
    2. External variables
    3. Internal variables
  5. Levi's versus Tesco: The case of 'Grey Jeans'
  6. Conclusion
  7. Bibliography

The number of companies operating internationally is increasing at an alarming rate in the recent times. Due to high competition there is a larger task for the companies which are based abroad.They should analyze the advantages and disadvantages before entering the market. Culture, politics and few others are the obstacles faced in foreign markets.

Before entering the foreign markets it is important to make a profile of potentials such as:
1. Distribution channels for the product for which one wants to launch
2. Nature of competition in the market
3. What is the market outlook for the product or the service in a country
4. Consistency of growth rate
5. Are there distributors who can market your product
6. Incentives offered by the government

[...] There are some general advices the company always must have in mind before and during a co-operation on the international market. If the first impression becomes negative, this can be hard to shake. Foreign cultures have different ways of doing business, for example when it comes to planning ahead and keeping delivery times. want to be a good Frenchman in France and a good Italian in Italy. My strategy is to be global when I can and stay local when I must? Eric Johansson, President of Electrolux Methods of exporting Exporting can be achieved by selling your product to a foreign firm directly or indirectly through an export intermediary or trading company. [...]

[...] Sell excess production capacity: companies who have excess production for whichever reason can sell their products in a foreign market but cannot be forced to give discounts or dispose the excess production. Gain knew knowledge and experience: going international can give new and valuable ideas and information about new technologies, new marketing techniques and foreign competitors. These gains can help the company foreign and domestic business. Expand life cycle of product: products go through various cycles like introduction, growth, maturity and declining stage which is the end of their usefulness in a specific market. [...]

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