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You don't have to be a fortune 500 company these days to have a global presence, but
don't run to the border with your new business ideas and products, before creating business and marketing strategies that reflect the country you desire to do business in cultural needs and tastes.
What is the culture? The American way is not necessarily the best way or the ONLY way! Procter & Gamble, a l arge US company who should know better leanrned expensive lessons with two of their products in the European market recently. Procter & Gamble's push to sell solid stick deodorant to a European market that mostly uses aerosol, and its push to sell premium Pamper diapers to Germans who do most of their shopping at discount stores. Know what you are up against before spending serious marketing dollars to penetrate the market of a new country. Read up on the business culture, something very simply can save you the embarrasement and money. For example Japanese business people prefer to receive a business card from you without having to turn it around, so that he or she can read it right away.
What is the RIGHT price? What price do you have to sell at for it to be profitable for you? You must understand what pricing structure is going to be attractive to the people buying your product. Take into consideration if you are selling to a Third World country or to a developed nation. Can the residents of the developed nation get a similar product at a lower price and can the residents of the underdeveloped country truly afford your product?
What is the political climate? These days it's not just about the political climate of the country you are trying to do business in but also how do they perceive you doing business in their country. Are they receptive to you being an American? Or is this notion something you cannot promote.
These tough questions must be answered before any attempt is made to go global. Go prepared and catch up on your survival skills and know you will be faced with some alien conditions.
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