When deciding whether or not your company should engage in international marketing, there are some considerations that need to be made. You need to make sure that before you even venture into the country, you need to have done your research. You need to know basic information about the country and its practices, you need to be well aware of the rituals followed by the country and the way its society functions. South Korea, for example, expects foreigners to try to show proper respect to Korean supervisors, and their society is run according to Confucian precepts. Typically, your market will be different in their country as it needs to be adapted to fit the culture and its needs. Without adapting your market to these changes, you are guaranteed to not have the same business success as you would if you adapted your business to fit their specific needs. You will need to develop strategies to help you manage your international business, discover methods of entering a foreign market and be familiar with the elements of the international business environment. 2.0 Suitable Foreign Market To find a suitable market, you should do some basic research about the country and how it does business. Business diversification is something to consider as it is a technique that reduces risks. It does this because it aims to maximize the return on your money by investing in different areas. Some political risks may include factors such as the government not accepting the way you do business, so you need to change your business to fit their needs. This must also be taken into account taking into account cultural and economic risks, since the country with which you wish to collaborate...... middle of paper ......st of a unitary, multi-party republic, governed by a president, Prime Minister, deputy Prime Minister and State Council (cabinet). 6.0 Recommendations Here are five suggestions to help you prepare your company to enter the international market: 1. Learn about international market customs and business etiquette.2. Collect historical data on the country's currency value fluctuation and import/export timing.3. Become an expert on the country's laws governing business.4. Conduct focus groups to test the waters in the potential international market.5. Find out what the competition has done in the same territory.7.0 ConclusionSo, overall, when you enter an international market, you need to make sure that you know the advantages and disadvantages, the culture of the country and other aspects that will be beneficial for your business.
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