Question

If you produced a product or service that you thought would sell well in another country, What Mode of Entry into the International market would you take and why?

Answer 1

To start with the explaination, let's consider, we have developed an IT Product say a CRM to manage the sales leads. Since, IT is very well developed in other countries So, a cut throat competition would be there to penetrate into the international market.

A little description about the product : It's a CRM which we have developed, which can manage the sales leads and gives reminder follow ups so that rigrous follow up can be done. Considering that the CRM is widely used in Indian market, so now let's try to penetrate deep into the foreign markets as well.

Mode: The best way to promote your product is through Internet, i.e digitally through digital marketing.

Since, almost everyone is on internet these days, so it's better to promote the product digitally rather than traditionally used techniques. Listing below following techniques :

1. Through Fb and google adwords : You may target the country you want to penetrate in and apply strong keywords to show ads to the targeted audience and make your product popular.

2. Through ad agencies : You may also cherry pick, some good marketing agencies which have a good customer base in that particular country. It would be a bit costly but returns would be surely good if your product is good and competitive.

3. Through company partnership : Another way to expand your business overseas is to partner with other company. You may work with them on profit percentage sharing basis. This would give good results as customers would easily trust your product as it would be marketed by their trusted company established over there. Once your product captures the market and you start receiving very good profits , you may also open office over there.

4. Start e commerce store online : You may promote your product by starting seo campaigns and pay per click advertising and reach to the international customers.

Hope this helps !!