THE MARKET PLAN Once you have determined that your project is viable, write a long-range market plan, then execute it. Make certain to integrate the international plan with the firm’s overall strategic business plan. See chapter 7 (“Setting Up Your Own Import/Export Business”) for details about how to write a business plan. Use the...
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NEGOTIATIONS Americans are accustomed to a fixed-price system. We usually pay what is advertised on the label or we don’t buy at all. However, many countries are on the barter system, and most people of other nations understand bargaining much better than we do. For instance, when a trader receives a quote, it is...
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INTELLECTUAL PROPERTY RIGHTS “The Japanese stole my stuff! They just drove down the road, passed our factory, and copied our trademark. It took us two and a half years and $5000.00 to get it back,” said one executive. Because this company had the trademark registered, no one else in the United States could use...
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COMMUNICATIONS Although nothing substitutes for personal contact when developing an international marketing structure, this might not always be possible. Therefore, the tone of initial written communications is critical. It often makes the difference between a profitable, long-term arrangement and a lost opportunity. The Introductory Letter or Telex Most often you can write your introductory...
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TRAVEL Mistrust across international borders can be a barrier to a successful import/export business. Therefore, visit the country and the people who offer goods for your importation or the agents or distributors who market your export products. These personal contacts remind us that we have more in common with people from other nations than...
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