Foreign Market Entry

The business world of today calls for expanding sales and profits in order to achieve ever-increasing earnings. Business owners and managers must look for any available opportunities to keep their market share and expand into new markets. What happens when their local market becomes saturated? The savvy leader is inclined to search abroad for any and all potential new markets for their product or service. New markets offer the possibility of increasing total revenue and/or decreasing the costs of goods sold, thereby increasing profits. Entering new markets may also allow a company to follow its existing customers abroad, attack competitors in their home markets, guarantee a continued supply of raw materials, acquire technology or ingenuity, diversify geographically, or satisfy the stockholders’ desire to expand.