The global marketplace presents challenges in the same way it rewards. It gives you a chance to serve people of different political, social, and economic backgrounds. On the other hand, entry to foreign markets is riddled with all kinds of problems and barriers to entry. An international trade consulting partner may come in handy when trying to solve such challenges. Here are highlights of a few areas that the consultant can help.
Different countries have different licensing procedures for imported products. You need to comply with such rules for you to get into their markets. A consultancy may help get the required licenses by advising on compliance measures. The firm could also be used to lobby the decision-making organs to make decisions in your favor. You may also lobby to get cuts in remittances such as mining royalties.
If you plan to enter new markets by producing goods in the respective countries, consider that cost and availability of raw materials, qualified teams and the right technology for production. A consultant helps in ascertaining whether the project is feasible given the availability of all the above factors of production. Using the results of the research, you can make the right decision on the way forward.
Each market that you venture has different customer preferences, purchasing power, substitutes, and competing goods from your home market. Different ethnic groups attach different meanings to shapes, names, and colors. A brand name may be accepted at the home market but fail to pick up in a particular segment of the global marketplace due to the meaning of its name, color or shape. A consultant assists in getting the right names, meanings, and sizes for different markets.
As for electrical appliances issues, rating, safety compliance, and usage are common. For example, some countries use 110V from the mains supply while others use 220v supply. As for the vehicles, some countries have a right hand driving policy while others use the left. If you produce electric appliances or vehicles, you would need to have the research done on such areas as wattage, voltage, and carbon emissions, among others.
There are several roadblocks that you are likely to meet when selling to a country that is a member of a trading bloc such as European Union, or the East African Community. Such trading blocs place stringent measures to foreign firms in a bid to protect their home industries. A consultant assists in examining the market and ascertaining whether your products comply with set regulations.
Your home country may encourage the exportation of goods and services by giving tax cuts, subsidies, or credit to exporters. Such support enables you to sell the goods at a low price in foreign markets and compete effectively. A consulting firm alerts you to the presence of such supporting measures and helps you make use of them to your advantage.
The global marketplace enables your firm to expand beyond national boundaries, improve on their solutions, and get better ways to keep their customers satisfied. You need market knowledge, tactics for dealing with challenges and resources to capture the market. International trade consultancies do research on your behalf, advices on the steps to take, and becomes a partner in capturing the emerging markets.
Different countries have different licensing procedures for imported products. You need to comply with such rules for you to get into their markets. A consultancy may help get the required licenses by advising on compliance measures. The firm could also be used to lobby the decision-making organs to make decisions in your favor. You may also lobby to get cuts in remittances such as mining royalties.
If you plan to enter new markets by producing goods in the respective countries, consider that cost and availability of raw materials, qualified teams and the right technology for production. A consultant helps in ascertaining whether the project is feasible given the availability of all the above factors of production. Using the results of the research, you can make the right decision on the way forward.
Each market that you venture has different customer preferences, purchasing power, substitutes, and competing goods from your home market. Different ethnic groups attach different meanings to shapes, names, and colors. A brand name may be accepted at the home market but fail to pick up in a particular segment of the global marketplace due to the meaning of its name, color or shape. A consultant assists in getting the right names, meanings, and sizes for different markets.
As for electrical appliances issues, rating, safety compliance, and usage are common. For example, some countries use 110V from the mains supply while others use 220v supply. As for the vehicles, some countries have a right hand driving policy while others use the left. If you produce electric appliances or vehicles, you would need to have the research done on such areas as wattage, voltage, and carbon emissions, among others.
There are several roadblocks that you are likely to meet when selling to a country that is a member of a trading bloc such as European Union, or the East African Community. Such trading blocs place stringent measures to foreign firms in a bid to protect their home industries. A consultant assists in examining the market and ascertaining whether your products comply with set regulations.
Your home country may encourage the exportation of goods and services by giving tax cuts, subsidies, or credit to exporters. Such support enables you to sell the goods at a low price in foreign markets and compete effectively. A consulting firm alerts you to the presence of such supporting measures and helps you make use of them to your advantage.
The global marketplace enables your firm to expand beyond national boundaries, improve on their solutions, and get better ways to keep their customers satisfied. You need market knowledge, tactics for dealing with challenges and resources to capture the market. International trade consultancies do research on your behalf, advices on the steps to take, and becomes a partner in capturing the emerging markets.
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