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For all types of businesses, marketing to the global market is not taken lightly as it requires thought, time and investment. The following are the priority on any to do list before a final decision is made about going global:
1.Prepare a segmentation marketing analysis which will help to determine if your brand is suitable for selling on the local market.
2.Prepare what is referred to as a product gap analysis which compares your product’s status with what is available with regards to similar locally available products. Is there a gap in demand?
3.Conduct a Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis against any likely competition.
4.Develop a strategic business plan related to the targeted overseas local markets. You may need a different one for each country. For example, if your language is English, you will only be able to localise your brand effectively if you translate all information related to it into the countries’ languages.
5.Define your strategy for the short, medium, and long-term scenario and layout reasonable goals that will measure your progress and benefits/costs as you proceed over time.
Conclusion
For the effective marketing and selling of your product, it needs a cohesive, comprehensive strategy that takes into consideration marketing and sales strategies, product delivery options, clear branding and pricing all in a language that is understood by your targeted market.