International markets
Entering international markets
- To grow, many firms sell abroad. Globalisation has made this easier.
- Ways to enter a new country:
- exporting,
- a joint venture with a local partner,
- opening its own branch there.
Practice
Which is a way to enter a new international market?
Firms enter abroad by exporting, a joint venture, or opening their own branch.
Practice
Globalisation has made it easier for firms to sell in other countries.
A more connected world makes trading and producing abroad easier.
Localisation
- A home strategy may need changes abroad.
- Localisation adapts the marketing mix — product, language, price, or selling method — to suit local tastes, laws and incomes.
Practice
Localisation means:
Localisation changes the product, language, price or selling method to fit the new market.
You've got it
Key idea
- enter markets by exporting, a joint venture, or your own branch; globalisation helps
- localisation adapts the marketing mix to the new market
- a strategy that works at home may need changing abroad