Each strategy carries with it different levels of risk and various advantages and disadvantages.
The Path that most businesses take is to establish a relationship with a foreign agent or distributor. A partnership like this can be useful as experienced agents have local contacts and have a thorough understanding of the local conditions and regulations. A distributor should be able to handle the sourcing of retailers or buyers and the distribution of your products. The main issue with this method is the lack of control over operations, as you have to manage the process from a distance and rely on your agent to get your job done. Texas Market Strategies has a vast network of industry professionals to best position your business for success.
Another common strategy is to set up a local office in your intended market. The advantage of this is that you have greater control over marketing and distribution and direct contact with your customers. Texas Market Strategies can assist you in setting up a local office and assist in finding the right employees to staff your operations.
A larger scale operation may be able to make effective use of a strategic alliance with another organization. Joint ventures involve your business agreeing to merge with an already-established business in your target market. Joint ventures are a great way to gain access to skills, resources and finance when entering a new market. However, there are risks involved and you need to ensure that you can rely on your business partner to work with you to achieve the objectives of the venture.
Texas Market Strategies can minimize the risk associated with these partnerships. Organizations can also look at the option of an acquisition or merger with a well-established local business. Buying into an established business can give you instant access to a customer base and can help you avoid some of the barriers to opening your own business in an unfamiliar market. However, there is a significant amount of financial investment involved and the risks will be carried entirely by you. Texas Market Strategies keeps a close eye on acquisition, merger, and capital market activities available to your company.
There are innumerable international market entry strategies you could employ. Risk versus reward is the crucial factor to assess.
Let Texas Market Strategies minimize the risk, and MAXIMIZE the REWARD!!!!