Assignment No.

MARKETING MANAGEMENT
(5565)
Executive MBA/MPA (Col)

DOMESTIC AND
INTERNATIONAL
MARKETING CHALLENGES

ZAHID NAZIR
Roll.No. AB523655
Semester:Autumn 2008
 DOMESTIC AND INTERNATIONAL MARKETING
CHALLENGES

Marketing grows even more complex; it is an ever-evolving discipline. It

builds on past while taking advantage of new opportunities. Each new
challenge demands a firm grasp of what has happened before, a clear picture
of the present situation, and an understanding of the n-lost important new
options at the moment. In. general, the centre of attention in marketing has
to shift away from the instruments and concentrate on information. Creation
of personalized customer relationships, calculating the lifetime value of
customer and investing in it, and satisfying and retaining existing customers
and using predictive modelling to target those customers n-most similar to
existing customers will be the ultimate approaches to face the marketing
challenges of the 21st century.

As an art or science, marketing is undergoing dramatic and exciting changes,

and the field promises to be just as dynamic in the years ahead. Marketing
has emerged as the most critical function in today's international business
climate; even the smallest of the firms are now using innovative marketing
techniques due to increasing global competition. As soon as you click on
your TV, a commercial for Ariel or Brite washing powder balloons onto the
screen, followed by an advertisement of Shaukat Khanum Memorial Hospital
or the Edhi Foundation asking for your contributions towards cancer
research or zakat. You stroll down the lifestyle store counter and pick out the
Citibank/AHZ Grindlays Visa card membership brochure, allowing you to
apply directly for credit cards. A representative from Patient's Aid
Foundation gives a talk at your university, soliciting new memberships and
volunteers for blood donations. You receive a phone call from Holiday
International asking you to participate in a survey about the places you have
visited in Pakistan. In your job as a university librarian, you have to keep a
track of the supply of books, magazines and journals, so that you keep
ordering the latest publications.

All these situations involve marketing. According to the American

Association, marketing is "the process of planning and executing the
conception, pricing, promotion, and distribution of ideas, goods, and
services to create exchanges that satisfy individual and organizational
goals." The broad definition takes into account all parties involved in the
marketing effort: members of the organization that produces goods and
services, resellers of those goods and services and customers or clients.
Virtually all businesses realize that marketing plays a crucial role in their
success. Marketing texts initially had a strong bias towards packaged
consumer goods, which no doubt are important; yet they overlooked
consumer services, industrial goods and services, advanced technology
products, non-profit enterprises, and government agencies. Today,
marketing has greatly come in play with semi-conductors, commercial
banking, industrial chemicals, health care, computer integration services,
agricultural equipment, government services, and many other products
outside the consumer mainstream.
To appreciate and understand what the future holds for this dynamic field, it
is important to first see how marketing has evolved throughout most of the
previous years. The 19th century, classified as the 'Childhood Age', the 20th
century as 'Adolescence' and the 21st century as 'Adulthood' would take - the
readers through a blend of innovations and technology management, rather
than marketing. Before the Industrial Revolution, a typical example of
marketing was a farmer loading a wagon with his produce to sell in town on
market day. Thus, marketing emphasized the physical distribution function
of getting goods to customers. Since then, economic and social changes have
required organizations to revise their view of marketing in order to stimulate
successful exchanges.

19TH CENTURY: CHILDHOOD

Throughout the 19th century, Europe produced modern innovations

changing the faith of millions around the globe; France invented heliography
and made the first photographic image, while England developed stainless
steel. Charles Babbage, English inventor and mathematician, designed the
difference machine to calculate mathematical function to eight decimal
places. Austria in the meantime invented a screw propeller and carried out
experimental tries with propeller driven steam ship. The first steam railway
line between Liverpool and Manchester (England) was laid. Gasoline engine,
the Bessemer process, the first underground railway in London, first
electrical telephone, extraction of aluminium through electrolysis, gasoline
engine motor car by Benz, and the discovery of radium and polonium took
the whole world by a storm. No one thought about, or cared for, marketing
these breakthroughs.

20TH CENTURY: ADOLESCENCE

The 20th century saw the advent of scientific management, incorporating

universal principles of efficiency and industrial engineering. All the building
blocks were already in place: steam engines, railroads, electricity,
typewriters, telegraph, telephone, steel, gasoline and diesel engines, radio
and flight. Human relations management, covering the psychology of
motivation, participation, and job enrichment crept in making the "worker a
slave" mentality disappear, Japanese style of management, quality assurance,
novel approaches to inventory control, synergies, re-deployment of assets
and strategic planning took over overnight.

The Evolution of Marketing

In the first part of this century, organizations found more and more ways to
automate. European and North American companies typically focused on
ways to improve the production of goods, because this is how they were able
to keep a competitive advantage. Manufacturers concentrated on producing
goods, believing the products would sell themselves; this was the production
era. During this era, producers operated in a seller's market -- one where
demand for products outstrips the supply.

Thanks to the many production improvements business had made, they

became able to produce more goods than their regular customers wanted to
buy. Businesses began operating in a buyer's market-- one in which the
supply of products exceeds the demand for them. This marketing challenge
was intensified by the limitations on spending caused by the Great
Depression and World War-II. Many businesses responded to the challenge
by hiring salespeople and looking for ways to persuade consumers and
organizational buyers to purchase more of their products. The period in
which this approach was common to marketing is known as the sales era,
and it prevailed until the 1950s.

As markets continued to grow, many businesses became less satisfied with

the principles of selling more and more. They needed a basis for focusing
their efforts, and they needed more successful strategies for attracting and
keeping customers. This led businesses to enter the marketing era, a period
during which more and more companies formed the marketing (rather than
simply sales) departments, sought to identify customer needs and desires,
and adopted the marketing concept. This concept states that an organization
should seek to meet its customers' needs as it strives to achieve its own
goals. The process of researching these needs and then planning a way to
meet them can be time consuming, but it helps ensure that organizations
use their resources wisely; at organizations that have adopted the marketing
concept, marketing becomes the company's link to the customers.

In the decades that have passed since the beginning of the marketing era,
competition has intensified. Technological advances have enabled
organizations to serve much larger geographical areas, so that companies
now share the local markets along with many foreign firms. Government
deregulation have increased the number of companies working in the
industries, intensifying competition. Information explosion has made today's
buyers more sophisticated and more demanding. As a result, more and more
organizations are finding it necessary to move beyond the marketing era to
an emphasis on quality and customer value.

21ST CENTURY: ADULTHOOD

From mass marketing in the heydays of fifties and sixties, segmentation and
line extension in seventies and intensified niche marketing in he eighties,
total quality management blended with the marketing concept in late
eighties, broadening the traditional marketing concept to involve all
members of the organization in striving to improve quality in order to satisfy
customers. In an organization applying the total quality concept, various
functions of the organization (marketing, technical and operations) work
together to decide what the buyer needs and how the seller will meet those
needs; they act as partners to get the needs met. The goods and services are
produced right the first time, the whole process is faster, and the customers
and the suppliers are both satisfied with the result. In effect, practicing total
quality management enables the organization truly to put the marketing
concept into practice.

In 1980, Alvin Toffler coined the word demassification in his book, The Third
Wave, where he describes how and why the mass society created by the
industrial revolution in splintering more and more into a demassified
society. Mass markets had split into ever-multiplying, ever-changing sets of
mini-markets that demanded a continually expanding range of options,
models, types, sizes, colours, and customization. Moving in the 21st century,
the trend towards customization and micro marketing would continue to
intensify. Customers would choose from at least 70 types of ice creams
within the same brand, 50 models of cars from the same automobile
manufacturer, and may be over a 1000 perfumes in a single superstore.

The population of Pakistan grew at a compounded rate of 2.7 per cent to 139
million in 1998, compared to 155 million in 1997. Estimations show growth in
population of urban areas, and a decline in the rural areas, suggesting an
urban movement. The per capita income went up to $ 386 in 1998 from $352
in 1997. Growth in population and income, and urban migration also shows
an increasing trend of working women. It cannot be said to what extentthese
demographic changes will continue to be reflected by the next census. But
periodically we are hit by startling new members that dramatize the
accelerating change in the society both for consumers and marketers.

The seventies revealed extensive consumer inclination towards brand

loyalty; the eighties brought about product proliferation, increased imports,
inflation, recession and extensive sales promotion, eroding the advertised-
brand dominance. Generic products, private labels and retailers brands
seems to flood the customers with competitive prices and quality. Sales
promotion in both goods and services, Pepsi's free World tickets, Maal-a-
Maal by Muslim Commercial Bank and Crore Pati by Habib Bank have
proliferated, tempting the customer constantly to jump from one brand to
another hence decreasing brand loyalty.
Projections show that by the end of the century the world will have almost
700 million telephone lines operating, all of them interconnected and almost
all accessible by direct dial. The toll free phone; the fax machine; the credit
card; and now on-line shopping services readily available through the
computer modern -- all these have revolutionized the ways people shop and
pay around the world. ANZ/Citibank Visa cards, Mastercard, Diner's Club
cards and ATMs have all found their inroads to our markets. With so much
happening to provide so many different ways to shop, marketers willing to
look over and beyond the orthodox marketing approaches have an
overabundance of new challenges and, opportunities.

The 21st century will be the times of massive consumer database. A great
many consumer marketing companies and almost all business-to-business
marketers now maintain some form of detailed prospect and customer
profile using geographic, demographic and psychographic characteristics,
and purchase history. Keeping track of the customers personal
characteristics, preference, and purchase in a relational marketing database,
and pushing a customer-focused marketing strategy, together represent the
single most significant development of modem-day and future marketing.

Most companies distributed their products to the consumers through two

Sources: retailing and sales agents. New products and services in the
demassified society refuse to be confined to a single channel, which was one
of the first principles of marketing. Appreciation and reward of multiple
channels of marketing are setting in place clearly. The question is not "How
do we distribute" but "How else can we distribute?" Marketers will have to
find new combinations of hybrid marketing channels to reach all customers.

The abundance of information through the electronic and print media has
given rise to advertising clutter, a problem and an opportunity for the
marketers and customers. The increase in local television channels, the dish-
syndrome and now the cable-syndrome have left the marketers perplexed.
Local and foreign magazines and newspapers have already flooded the
market. Advertising on the World Wide Web has seen a tremendous boom.
The real issue is -- as it has always been -- how do you connect most
effectively and affordably with your target market. And if you have been
dependent on one form of advertising medium, where do you now turn to
gain market share?

Marketing grows even more complex; it is an ever-evolving discipline. It

builds on past while taking advantage of new opportunities. Each new
challenge demands a firm grasp of what has happened before, a clear picture
of the present situation, and an understanding of the most important new
options at the moment. In general, the centre of attention in marketing has
to shift away from the instruments and concentrate on information. Creation
of personalized customer relationships, calculating the lifetime value of
customer and investing in it, and satisfying and retaining existing customers
and using predictive modelling to target those customers most similar to
existing customers will be the ultimate approaches to face the marketing
challenges of the 21st century.
10 MARKETING CHALLENGES

Any company is faced with marketing challenges, even the market leaders.
Many of these challenges rely upon perception of the market. Thus
Marketing is required. In most of these cases advertising helps, but that is
the most expensive method.

1. The unknown alternative solution

Your solution addresses a common problem differently but nobody

knows. What to do:
- Create awareness by press releases, industry analysts and bloggers
- Start blogging in order to get attention
- Improve the SEO of your website in order to be found on the Internet
- Create content related to your solution in order to be found on the
Internet
- Be present on trade shows and on conferences on a tight budget

2. A solution without a known brand name

Your solution suits a specific category of problems or servers a specific

industry, but you are never considered or invited for a first meeting: they
just don’t think of or remember your solution. What to do:

- Branding is required in order to make sure people connect your brand

with a specific problem.
- Start blogging in order to build authority in these matters
- Be present on trade shows and on conferences on a tight budget

3. The ‘me-too’ solution

Even if you are recognized as a vendor, buyers and decision makers don’t see
the benefit or the differentiating features or functions. Thus they don’t put
you on the short-list. What to do:
- Publish comparison charts
- Create awareness with industry analysts and bloggers

3. The wrong pricing perception solution

The solutions of the market leader are selling at a high price tag. Decision
makers and buyers have the perception of expensive solutions.
Due to a number of reasons (less marketing, less overhead, better design,
improved production methods) your sales price is much lower.
Still people don’t take your solution into consideration as they think it
will be also too expensive. What to do:

- Put your price list on your website if possible

- Put a starting price tag on your website and on leaflets

5. The cheap perception

Somehow the solutions of your company are considered as “cheap”. Still you
are offering good quality for a decent price. Not “cheap low quality”.
What to do:

- Show your references on the website

- Publish case studies with the best well known brand names you have
amongst your clients.
- Get a certification: then send out press release concerning this certification
and put the logo on website.

6. The high cost competitor perception

The market leader offers a complex solution that is difficult and costly to
deploy and install, whereas your solution is simple and straightforward. Still
it can be used by 80% of the market.
People don’t even think of looking for a solution for this problem as they are
afraid of the difficulties and costs involved of implementation.
What to do:

- Distinguish from the market leader by explaining the lesser complexity and
ease of use
- Addressing this message of the difference to industry analysts and bloggers

7. Being the leading solution in different market

Your solution is market leader in a certain market segment. The solutions

can be used in a different market segment or industry too.
Still buyers of the different market just don’t address to you.
What to do:

- Branding into the different market

- References in this different market segment
- Publish case studies with companies in this different market
- Win an award related to this different market

8. The better solution than the market leader

You have a solution that has many more features or functionalities or is just
more efficient to solve the problem than the well-known brand name.
What to do:

- Publish comparison charts

- Create awareness by press releases, industry analysts and bloggers
- Show references on your website or in publications
- Publish case studies

9. Being the market leader with the perception of expensive

Your company is the market leader, but solely large companies will
considering buying from you as the market has the perception of high costs
involved in your solutions.
Thus you miss all possible deals with medium and smaller companies.
What to do:

- Publish case studies with smaller companies

- A ROI calculation on your website
- Blog in order to approach your potential customers

10. The great solution from the wrong country

You might have the best solution at the best price / quality; however people
don’t buy from you as your country of origin has a lesser reputation in
quality or support.
What to do:

- Use all references you have abroad - avoid your country references
- Get a certification for your solution or production process
- Set up a local office for sales and support
- Hire local sales people for each local market
- Have all your marketing material available in the local language
- Use competitive pricing, but don’t become low cost or cheap

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MARKETING ISSUES IN PAKISTAN
Pakistan is a land with a staggering population of a 160 million and a market
that has largely remained untapped. It falls under the umbrella of emerging
markets and offers its own set of challenges to marketers. It may even prove
evasive to conventional marketing wisdom. Major corporations have their
eyes set on developing nations and they have a monumental task ahead of
them. They need to realize that the G8 nations comprise a fraction of the
world’s population. These nations might be rich, but their inhabitants are
aging fast and this in my opinion is indicative of a stagnant market. In
contrast, developing nations such as India, Pakistan and the “other 86%” of
the world present a plethora of opportunities in the form of a prodigious
consumer base of more than 4.5 billion plus. These consumers are more
aware and are demanding their share of the consumer pie.

The following are some of the marketing issues that are pertinent to the
market:

1. What are the practical and conceptual problems of branding an

FMCG product in Pakistan?

2. What are the problems of branding an agricultural product in

Pakistan?

3. Pakistani exports are not branded properly in the international

market.

4. How to brand Pakistan and position it on the global business

landscape.

5. Dearth of marketing research and paucity of reliable data.

6. Supply chain management issues and lack of coordination among

channel members

7. Lack of quality advertisements. Products are sometimes promoted in

an unethical manner.
 8. Problems and difficulties faced by adverstising agencies in Pakistan.

9. Lack of communication between different mediums.

10. What are the extent of Corporate Social Responsibilities in

Pakistan? Are they being fulfilled?

11. The effect of smuggling in Pakistan.

12. Lack of specialization and awareness amongst local manufacturers

about the role of marketing. Marketing is taken “lightly” and is not
considering an integral part of the business.

13. Law and order situation. This is an external factor but important to
the notion of marketing.

14. Abundance of counterfeit products and their effects on mainstream

business.

4 WAYS TO OVERCOME MARKETING

CHALLENGES FOREVER

For most domestic business owners, marketing is an overwhelming concept.

They need marketing solutions that ensure a smooth-running, profitable
business yet most don't know where to begin or how to focus their efforts.

90% of small businesses don't even have a marketing plan. It's difficult to
reach your destination if you don't know where you're going!

If you're a small business owner looking for ease, focus and marketing
success, we recommend that you focus on just 4 tactics:

1. Establish a memorable and unmistakeable brand identity:

The secret to business success is determined by your ability to powerfully

communicate your business with laser precision and your ability to
deliver a clearly-defined and consistent experience.
 In a nutshell... it's called branding, and, when done right, it ensures a
thriving business with all the customers and profits you need. The secret
is to establish a powerful brand identity that sings distinction. And
establish that identity before you launch any marketing activities.

2. Create a deep connection with your core target audience - your

potential raving fans!

Who wants and needs what you have to offer? The only wrong answer is
"everyone." If you're a pediatrician, you may see infants and children. Are
they your target audience? No! They are your patients, but it's the
parents you need to connect with to get the kids in your door. And it's
not just any parents - it's a definite group of parents.

In marketing, you get a lot more "bang for your buck" if you focus your
spending on a well-defined group of people that you enjoy working with.
The better you define this group, the more effective your marketing can
be.

3. Design compelling offerings that pull customers in like a

magnet.

80% of all purchase decisions are based on emotion. It's your job as a
marketer to know how your customers want to feel and to get them to
visualize how your services can meet their needs. People want to know,
"What's in it for me?" Tap into the emotion and create offerings that
touch your customers.

4. Craft A Personal, Workable Marketing Plan

Marketing is everything you do to make your product or service more

visible, more desirable and more profitable. Your marketing plan will
clearly define the big picture and provide focus and direction based on
 the 4 'P's of Marketing - product, price, place/distribution and
promotion.

Since 90% of small business owners do not have a plan, you'll have a leg
up on your competition by crafting your personal, workable marketing
plan to ensure that you reach your business goals.

Following these 4 criteria will transform any small business into a money-
making machine guaranteed to grow your client list, sales and profits. The
upfront work is the secret to a million-dollar business, literally and
figuratively.

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 PRACTICAL STUDY

In Practical study, two major sectors analysed to check the marketing

challenges which they are facing at domestic and international level. These
sectors are:

1). Pharmaceutical Sector in Pakistan.

2). Telecommunication sector in Pakistan.

Challenges faced by these sectors also apply to a larger extent to others

sectors too.

********************
MARKETING CHALLENGES TO PHARMA INDUSTRY IN PAKISTAN
Most of the doctors in Pakistan instead of giving ticket to health to the poor
patients prescribe those medicines that give them ticket to Caribbean Cruise,
Video cassettes, Microwave Oven, Television, Family Entertainment Show
etc.

This is one of the many stories which reveal the dubious side of marketing in
the Pharmaceutical industry. In 2006, one company offered a brand New
Toyota Carrola car to a doctor and said if you stop prescribing our brands we
will get this car from you.

Another company offered fridges and dinning room furniture to the doctors
who prescribe their medicines.

Off course, Pharmaceutical companies must keep their competitive edge, but
one should do ethical marketing not this type of financial gain to the doctor.

The Pharmaceutical industry is a powerful economic force. Pharmaceutical

companies in Pakistan spend 35-50% percent of its total sales back into the
Marketing of the drugs as there is almost no research and development in
the Pakistan Pharmaceutical Industry.

Face to Face promotion of drugs in Pakistan is the industry favorite

marketing approach.

Each company employs “medrep” to schmooze doctors and pharmacists. As

one medical rep explains…

“Med Reps are trained not to mere sample distributors and goodwill
ambassador. From offering cash deals and flight tickets to the baby sitting
and taxi services, the spectrum of task a med rep has to perform in serving
doctors is as broad as the medrep and doctors want it to be”.

In Pakistan the registration process of drugs is very easy. An estimated 3450

new drugs registered between May 1, 1994 and February 1996 almost eight
new drugs per working days.
Direct to Consumer Marketing

In Pakistan, patients can pick up leaflets which help them diagnose their
own depression. If they are persuaded they can simply buy the Prozac over
the counter and start consuming one day. Advertisements with Slogans like
“Extra Strength” “Clinically Proven” 24 hour relief or nothing is stronger are
common.

Challenges Faced by Pakistani Pharmaceutical Companies

• Pharmaceutical companies of Pakistan face challenges of increasing

competition from existing companies and as well new companies.
• Inflation is another factor which Pakistani Pharmaceutical Companies
facing (Oil Prices, Electricity, Gas, Raw Material Prices Increases
Due to these problems, pharmaceutical companies’ profits are decreasing
day by day and even some companies are running on break even or even in
loss.

So one should keep in mind these problems in mind while speaking about
Promotion of Drugs in Pakistan.

The Pharmaceutical industry has shown remarkably strong growth over the
past several years. But now this industry is moving towards a more mature
business model.

National Pharmaceutical Companies need to define itself beyond being

simply a low cost service provider: Management needs to identify and define
the company’s unique value offering for potential client. Determining the
new position of a pharmaceutical Company is not easy task and should be
done as part of long range strategic plan. Commercial success is still possible
and still there is space for new market entrant.

Availability of funds is a major weakness of Pakistan Pharma industry with

drugs requiring significant investment with no or little success.
With low barrier to entry, Pakistan Pharmaceutical Industry is highly
fragmented with about 607 companies of which 405 companies have
manufacturing plants including 25 foreign companies.

• The Cost of manufacturing conducting clinical trials are lower in

Pakistan than US and other developed countries.
• R & D expenditure of Pakistani Pharmaceutical Organization is still
among the lowest in the world.
• Pakistan Pharma Industry employed 0.4 to 0.5 million people directly
or indirectly.
• Price of drugs in Pakistan are Government controlled. For the last
seven years there is no increase of price.

MARKETING CHALLENGES TO TELECOM INDUSTRY IN PAKISTAN

Telecom industry is growing in Pakistan, with new companies getting license

the competition is tough as a result the consumer is getting benefit and
enjoying cheap call rates. With a population of 15 million country, telecom is
one of the best revenue generated industry. As voice over IP, web
conferencing and online video sessions are becoming popular these
companies have bright future ahead.
Although the telecom industry is growing, but at the same time they are also
facing marketing challenges due to perfect competition between different
service providers. This healthy competition results in deceptive marketing
by different companies. Trend of aggressive marketing and advertisement is
observed by the mobile operators in Pakistan. 68 paisa, 65 paisa, 60 paisa.
Trying to one-up other competitors, the advertisements emphasized the
lowest possible rate to grab attention.

In reality the low rates being advertised come with many conditions. To
figure it out one has to read the fine print carefully. I think this is unfair to
the consumers and we need to criticize this trend which some may
characterize as deceptive marketing.

Over the years mobile service packages have become difficult to understand.
It used to be pre-pay & postpay and in-network & out-of-network. Now
there is the option of lower price for pre-defined numbers (usually in-
network) such as family and friends. Then there is the billing duration which
used to be 1 minute in good old days. Not anymore. The rates advertised are
usually based on lowest billing duration (say 30 seconds) and may only be
valid during certain times (e.g. Paktel’s Power Hours are 7 pm – 10 pm).
The billing duration for the same package can vary for in-network and out of
network calls!

Given all of the complexity, it is difficult for a common person to easily

understand and compare these plans. I mean who has time to analyze all of
this (except your truly)? My guess is that most of the time people get upset
but carry on with their busy lives. Wouldn’t it be fair if all the operators
advertisements included the rate for 1 minute call clearly? How about being
more up-front and making the fine print a bit less fine?
I think this problem is common to all operators, therefore all of them should
share the responsibility to create a baseline standard. Better to fix this now
before the regulator (PTA) is asked to step in.

Challenges of High Growth Mobile Telecom Markets

The mobile companies in many regions of the world do not enjoy the
subscriber growth witnessed today in Pakistan. Therefore they have to work
on new strategies to spur the growth and increase the revenue per
subscriber. A recent paper in Alcatel Telecommunications Review
summarized the challenges of high growth mobile markets and provided
some suggestions to increase revenue. The paper “Innovating to maintain
momentum in mobile penetration” is available at Alcatel’s site. In this post
I’ll share a few key points and figures from their paper.
Figure 1 is a summary of key challenges. The mobile companies in Pakistan
will soon face many of these challenges.

Telecom companies can use IP based networks to converge and optimize

their solution offerings and at the same time increase their penetration by
offering new services such as micro-payments. The next generation networks
will play a key role in this growth. Of course some of the technologies like
WiMAX are so new that their success or failure is still an open question. Still
the point remains that current products and services can take these
companies only so far. Companies such as WATEEN are already moving in
this direction by providing triple play and mobile services.

RECOMMENDATION

14 TIPS FOR COMPANIES TO EXPAND INTERNATIONALLY

Here are the 14 solid tips for getting started in the global marketplace.

Tip1
Determine how much you can afford to invest in your international
expansion efforts.

Tip2
Plan at least a two-year lead time for world market penetration.

Tip3
Pick a product or service to take or source overseas.

Tip4
Conduct market research to identify your prime target markets.

Tip5
Research the data to predict how your product will sell in a specific
geographic location.
Tip6
Find cross-border customers.

Tip7
Establish a direct or indirect method of export.

Tip8
Hire a good lawyer, a savvy banker, a knowledgeable accountant and a
seasoned transport specialist, each of whom specializes in
international transactions.

Tip9
Prepare pricing, and determine landed costs.

Tip10
Set up terms, conditions and other financing options.

Tip11
Brush up on documentation and export licensing procedures.

Tip12
Make personal contact with your new targets.

Tip13
Explore cross-border alliances and partnerships.

Tip14
Enjoy the journey

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Reference

www.ecommercetimes.com

www.docstoc.com/docs

marketing.about.com/od/marketingplanandstrategy

www.pragmaticmarketing.com/publications

www.map.org.pk

bx.businessweek.com/marketing-challenges

www.pharmabiz.com/article

findarticles.com/p/articles/

www.paki.biz/dir/pakistan-marketing

www.scribd.com

www.pta.gov.pk

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