When initiating an export plan, conducting a product selection exercise is a key element. In reviewing market selection, suppliers may have considered product suitability as one aspect, understanding on a basic level what markets were best suited for the supplier’s current product lines. Before deciding to ship products overseas, however, a more in depth product review should…CONTINUE READING
Export 101 - International Essentials
New to International Business and need some direction? Or a seasoned veteran and just need a refresher? The Export 101 series of posts explore the various aspects of the international business plan to help keep you focused and on track.
When choosing to sell internationally, market selection is an important but potentially daunting task. There are approximately 194 countries around the globe, and selecting where to begin exporting can have a significant impact on finances and long term success. Often, suppliers begin as an “accidental exporter”, selling to those customers and countries who proactively…CONTINUE READING
One of the first decisions to be made when choosing to sell into a new market/region internationally is how to go to market. From one end of the spectrum, there is the allure of selling Direct to Retail (DTR), establishing a selling relationship directly with a key retailer, and on the other end of the spectrum, the completely hands-off method of utilizing an Export Management…CONTINUE READING
When conducting international business, it is important to take historical, current and forecasted exchange rates into account. It’s also very important to determine the specific currency in which a transaction will be priced. This decision will determine potential risks and rewards as exchange rates fluctuate. As an example, US Company A sells their Product for US$1,…CONTINUE READING