Global Business Perspectives

Creating a marketing plan is essential for a U.S. based business.  Most companies without plans fail within the first 2 years.  This is even more imperative for global growth.  If you are committed to exporting and taking your business international than you MUST have a plan. 

Written marketing plans help a company understand its strengths, weaknesses, opportunities, and threats.  Plans assist in understanding necessary resources and allocation of time.  Employees understand what they need to do and helps them execute their responsibilities.  A plan also helps a company garner loans or financial assistance. An international marketing plan takes time, often months or years to finalize.  I actually believe that plans should be very organic and evolve each year according to current market realities and product development.

Items to consider:

International or foreign markets have many different challenges for a U.S. Based company.

• Language and socio-cultural factors
• Climate and environment
• Availability of resources
• Low labor, wage and production costs
• Foreign exchange considerations
• Government and trade import/export taxes, controls and regulations

Writing a marketing plan and considering the above items will ensure you have thought through the process of going global.  Understanding the land mines before you encounter them will make your business decisions much easier in the short and long run.

Are you ready to create a plan and get started?