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Steven Murray Are You Ready To Go Global

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  • 1. Why Go Global Preparing to Think Globally Are You Ready to Go Global?
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  • 6. www.internetworldstats.com LATIN AMERICA Population Internet Users, Latest Data % Population % Users Use Growth COUNTRIES / REGIONS ( Est. 2007 ) ( Penetration ) in Table ( 2000-2007 ) Argentina 40,301,927 16,000,000 39.70% 13.00% 540.00% Brazil 190,010,647 42,600,000 22.40% 34.70% 752.00% Chile 16,284,741 7,035,000 43.20% 5.70% 300.30% Colombia 44,379,598 10,097,000 22.80% 8.20% 1050.00% Costa Rica 4,133,884 1,214,400 29.40% 1.00% 385.80% Mexico 108,700,891 23,700,000 21.80% 19.30% 773.80% Panama 3,242,173 264,316 8.20% 0.20% 487.40% Peru 28,674,757 7,324,300 25.50% 6.00% 193.00% Venezuela 26,023,528 5,297,798 20.40% 4.30% 457.70% TOTAL 552,296,094 122,796,514 22.20% 100.00% 590.10%
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  • 11. Why Look at International Markets Now
    • U.S. represents only 5% of world market.
    • Barriers and costs to selling internationally are much lower.
    • Distance between you and your customers is shrinking.
  • 12. International Markets – The Business Decision
    • Growing need for new markets and new customers
    • Increase sales volume
    • Smooth out your business cycle
    • Diversify customer base
    • Increase visibility
  • 13. Key Concepts in Going Global
    • Language
    • Countries
    • Culture
    • Currencies
    You need to be able to step outside your traditional boundaries
  • 14. Who is Going Global?
    • 97% of U.S. Exporters are SMEs
    • 2/3rds of those Exporters have less than 20 employees
    • 63% of SMEs sell to only to 1 Market
    Small to Medium Sized Companies
  • 15. Leading Destinations for PA Pr0ducts 1. Canada $9.2B 5. China $1.29B 3. Belgium $1.4B 4. UK $1.3B 2. Mexico $2.2B 6. Japan $1.26B 7. Germany $1.22B 8. Netherlands $.77B 9. South Korea $.659B 10. Australia $.653B
  • 16. Globalizing Your Website Why Go Global? Preparing to Think Globally Are You Ready to Go Global?
  • 17. Are You Ready to Go Global?
    • Develop an Export Plan/Strategy
    • Develop a Marketing Plan
    • Where to Turn to for Assistance
  • 18. The 10 Most Common Mistakes Made By Exporters
    • Failed to develop an international marketing plan before beginning to export.
    • Lacked total commitment of top management in the initial stages of exporting.
    • Selected overseas representatives too quickly without thorough investigation.
    • Chased orders around the world instead of using a systematic marketing plan.
    • Neglected new export customers when their domestic market was booming.
    • Failed to treat international and domestic representatives on an equal basis.
    • Refused to modify products to meet foreign regulations and local preferences.
    • Did not print sales, service and warranty messages in local languages.
    • Refused to use export management companies (EMC) in less promising markets.
    • Failed to consider licensing or joint venture agreements in more restrictive markets.
  • 19. Developing An Export Plan/Strategy
    • Determine Your Products Export Potential
    • Assess Your Company’s Export Readiness
    • Create a Written Export Plan
  • 20. Determining Your Products Export Potential
    • Examine the success of your products/services domestically
    • Examine the important unique features of your products/services
    • Product Life Cycle
  • 21. Assessing Your Company’s Export Readiness
    • Ask yourself….
    • What does my company want to gain from exporting?
    • 2. Is exporting consistent with other company goals?
    • 3. What demands will exporting place on the company’s key resources and how will these demands be met?
    • 4. Are the expected benefits worth the cost, or would the company resources be better used for developing new domestic business?
  • 22. Management and Company Review in Detail
    • Management Objectives
    • Experience
    • Management and Personnel
    • Production Capacity
    • Financial Capacity
  • 23. Management Objectives
    • What are the company’s reasons for pursuing export markets?
    • How committed is top management?
    • What are managements expectations for the export effort ?
      • Time frame
      • Return on Investment
  • 24. Experience
    • Past lessons from export attempts?
    • Where have you exported to and from where are you receiving leads?
    • Are domestic customers shipping your products overseas? If so, where?
    • Who are your main competitors – domestic and foreign?
  • 25. Management and Personnel
    • Existing in-house expertise?
    • Who is responsible for the export department’s organization and staff?
    • Available time to devote to international?
    • Who will follow through after the planning is done?
  • 26. Production Capacity
    • How is present capacity being used?
    • Will export orders hurt domestic sales?
    • Are there fluctuations in the annual work load?
    • What minimum order quantity is required?
  • 27. Financial Capacity
    • How much capital can be committed to export production and marketing?
    • What level of export department operating costs can be supported?
    • Competition from other new developments or efforts?
    • By what date must the export department pay for itself?
  • 28. Developing an Export Plan Review
    • Create a written plan
    • Clearly defined goals, benchmarks, and dead lines
    • Build in your learning curve
    • Remember that an export plan is a living documents
    • Keep it as simple as it needs to be
  • 29. Developing a Marketing Plan
      • Why?
    • Help you to develop a thoughtful and targeted approach exploring new markets
    • Determine the best possible markets for your products or services
    • Reduces headaches and surprises.
  • 30. Identify Marketing Opportunities & Constraints Abroad
      • Screening Potential Markets
      • Obtain export statistics that indicate product exports to various countries.
      • Identify 5 to 10 large & fast growing markets for your company’s product or service
      • Identify some smaller but faster-emerging markets that may provide some ground-floor opportunities
      • Target 3 to 5 of the most statistically promising markets for further assessment.
  • 31. Assessing Targeted Markets
      • Examine trends for your products that could influence demand
      • Look at the competition
      • Look at factors affecting marketing & the use of the product in each market
      • Identify any foreign barriers or U.S. barriers for exporting your product to a market
      • Identify any U.S. or foreign government incentives that promote exporting of your product
  • 32. Sources of Market Research
    • What Your Company Already Knows .
    • Where have you received unsolicited inquiries?
    • Customers
    • Suppliers
    • Industry Publications
    • Trade Shows
  • 33. Sources of Market Research
    • www.export.gov
        • Market Research Library
        • Trade Statistics
        • International Trade Show Directory
    • www.buyusa.gov/ countryname/en
        • Provides reports on specific country trade
        • topics
    • Make it easy on yourself & just ask an export assistance provider for help!
  • 34. Get Export Advice
    • What Can Export Assistance do for me?
      • Help develop your export strategy
      • Perform the tedious task of market research for you
      • Help you find trade contacts
      • Help you promote your products in foreign markets
      • Check the status of a foreign company that is wants to buy from/represent you
      • Match your company with appropriate buyers/sales reps/distributors in foreign markets
  • 35. Marketing Plan, The End Result
    • A ranked list of markets that represent the best markets for your products in terms of:
      • Demand
      • Openness for U.S. products
      • Cost of doing business
      • Your ability to support marketing and sales development
      • Other factors that make sense to your company
    • An outline of how you will approach the market
    • Benchmarks and short, medium, and long term goals/obejectives
  • 36. Export Assistance in Your Area
    • U.S. Commercial Service
    • Tel: 412 644-2800
    • Email: [email_address]
    • Web: www.buyusa.gov/pittsburgh
    • www.export.gov
    North Central Planning and Development Commission Tel: 814 773-3162 Email: [email_address] Web: www.ncexport.com www.ncentral.com Center for Trade Development, Commonwealth of Pennsylvania Tel: 717-787-7190 Email: peoneill@state.pa.us Web: www.newPA.com/trade
  • 37. How to contact us…
    • 425 Sixth Avenue, Suite 2950; Pittsburgh, PA 15219
    • Tel: 412 644-2800
    • Fax: 412 644-2803
    • Email: [email_address]
    • www.buyusa.gov/pittsburgh