Science Center International

Description

It is commonplace that most companies get into foreign markets more or less by accident. They place an ad in a trade magazine, get an inquiry from a foreign distributor, and sign him up after a little preliminary checking thinking “why not?”. Or they meet an agent at a trade show, have dinner together, hit it off, and enter into a contract. Or they follow what we call the “Uncle Bill” pattern: Somebody’s Uncle Bill knows somebody who knows somebody who… And so on. Sometimes companies get lucky and get a good result from these approaches. But usually, it is far less productive than it should be. The whole point of the international market entry process we have developed is to be systematic. It is a process which reduces the probability of error, and therefore increases the probability of success. It's almost like a sporting event. The team that makes the fewest mistakes wins. The same is true in entering foreign markets. The company that makes the fewest mistakes is the most successful. In this section we present a snapshot of the process. It represents a composite picture based on years of experience with numerous companies in numerous countries. But don’t be daunted by it. Because it is a composite, not all will be relevant to you. Pick and choose what you need. But keep in mind the total process as context. Note that some components, though important, can be very quickly accomplished. If you want to see an example of a successful application of the process, click on Success in China: One Manufacturer’s Story . If you want to talk about the process and where you fit in, give us a call. We will be happy to help you think through the issues with no obligation whatsoever. Below are brief descriptions of our many services. Scroll inside each cell for more information. Phase 1: Analysis Company Position - - - - - - You need to know who you are before you begin international expansion. What is your corporate vision? Have this vision and its supporting objectives been clearly articulated and are they shared by all key managers? Do you see yourself as a potentially global company? Why or why not? What makes you a potentially global player? And what is your international experience – with stocking distributors, independent agents, agents employed by you, licensees, contract manufacturers, joint ventures, local customs, and with actual foreign customers? Are you familiar with the strengths and weaknesses of alternative approaches? For example, if you have limited international experience, it may be too aggressive to begin by thinking about some kind of local production. Rather it may make sense to plan a staged international move beginning with exporting, learning how people behave in that market, and developing relationships. Perhaps then it would be appropriate to move slowly toward a joint venture or another type of in-country production arrangement based on solid experience. It is also critically important to understand exactly how your products are differentiated in your home market. This addresses your product and market position.

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