Explore New Markets Opportunities, Entering New Markets
May 21, 2019 at 12:34 pm
The starting point is defining the target
market. As you know, manufacturers have two primary channels for getting their
products to international markets:
Exporting direct to Distributors, The
easiest but hardest riddle.
Manufacturers are facing an unnerving
scenario: large distributors are moving to private-label products to improve
their competitiveness against competing distributors via lower prices and to
improve profit margins. A distributor either selling a private-label product
and/or purchasing same items from multiple suppliers is, in effect, a competing
Opening an operation overseas
Involves physically setting up one
business locations in the target markets. Initially may just be a sales office
– potentially leading onto production facilities (depends on product). Opening
an operation in your overseas market is generally the most costly and
time-consuming way to enter it, but the rewards can be great.
Secondly, according to the target market,
determine marketing budget and tools.
If you would like to discuss this
further, please feel free to contact me.