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Global Business - Chapter 16
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What are the promises of exporting?
increased revenue and profit base of a company
What are the pitfalls of exporting?
must be proactive; not reactive
If unfamiliar with foreign markets, the firm simply doesn't know the opportunities are there
poor market analysis
poor understanding of competitive conditions
failure to customize product for foreign market
lack of effective distribution
poorly executed promotional campaign
problems securing financing
What don't some new exporters realize?
it is hugely time consuming
requires a vast amount a paperwork
many potential delays and errors
How can the exporting experience be improved?
collect valuable information
use an export management company
Gain knowledge and expertise from government-run agencies
Advantages of EMCs
experienced specialists in certain areas
can help avoid common pitfalls
Disadvantages of EMCs
company can fail to develop it own exporting capabilities
What are some export strategies?
1. Helps to hire an expert
2. initially focus on one market or a handful of markets
3. enter on a small scale to reduce the costs of subsequent failure
4. recognize the time and management commitment
5. must take time to build local relationships with suppliers and customers
6. important to hire locals
Author
Mandyb
ID
210323
Card Set
Global Business - Chapter 16
Description
export strategies
Updated
3/30/2013, 11:08:56 AM
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