International business opportunities

Business Opportunities

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...by developing a small number of markets (usually individual countries) at a time, developing strategies and allocating resources for the purpose of developing a suitable market presence.

Since marketing is about supplying the right goods to the right place at the right time, the most effective method of promotion varies from one market to another. Knowing how to get noticed in a new market requires a level of market knowledge that often comes from undertaking market research.

From this research, the exporter is able to devise a suitable promotional strategy that may involve such activities as advertising, participating in exhibitions, direct mail, internet marketing, or seeking to enlist the help of third parties such as wholesalers or retailers. Effective promotions rely on an understanding of how your products relate to the current market and promoting your Unique Selling Points (USP’s). This could be as simple as having a product that is comparable in performance to current leading brands, but sells at a significantly cheaper price, or alternatively may relate to technical features of the product that offer different benefits to the end user.

Before embarking on a promotional campaign in a new market, especially if the company is new to exporting, it is best to seek advice from appropriate sources, such as UK Trade and Investment, Chambers of Commerce, Business Links and independent consultants.

Using the internet as a marketing tool

The internet is, according to many people, still an infant technology which is still being explored. For many small businesses however, the internet is unique in offering some kind of shop window to the whole world. When a business produces a website, that site is accessible to virtually the whole world (subject to any local censorship or blocking).

This has led to a phenomenon where increasing numbers of companies... continued on page three >

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