Ways of Entering Foreign Markets
Recent research completed by a team from Victoria School of Marketing and International Business, University of Otago, and independent Researchers learned that you have long-term opportunities in foreign markets, particularly China and India.
Many companies are rushing to put together business outlets of these countries while some are exporting many and services for the Asian market.
The Asian region represents an exhilarating economic chance of New Zealand business firms – especially the world’s two fastest-growing major economies; China and India.
The research team interviewed 60 New Zealand companies active in exporting their services to China and India. The outcome was that some companies tend to penetrate those markets independently, there is however substantial evidence world-wide indicating that if there is a collaborative and networking approach, this will result in better business outcomes.
One from the New Zealand businesses that are leading the way is New Image International, which has established offices in Asia and it is reported it is doing well when it comes to exports. Most of the income generation emanates from these countries. It is expanding steadily to all the countries in this region.
On the international scene, Artifu limited from Europe has penetrated the Asian market it is dominating the art industry in India. It is launching its company early this month. It has more than 1000 customers already.
The report states that companies that spend plenty of time studying, understanding the marketplace, and building good relationships using the key players were found to have more advantages than these businesses that don’t have managers in those countries.
Building a relationship is vital if you want to lay a sustainable investment in Asia. It is advisable to engage an area representative as a possible adviser and interpreter to be able to open the door for prosperity.
This will assure that your company stays there providing circumstances report states until this is possible by meeting the needs of the customers, offering the after-sales support, and maintaining open communication using the customers at all times.
You are assured there’s huge work at home opportunities than challenges so long as you prioritize your strategies, resources, selected niche and you’re simply ready to take the risks, knowing that your particular efforts will be lucrative and settle down the track. So think about it and take all the necessary steps to get into the untapped market in Asia.