Asia Pacific Trade Opportunities
All businesses are truly global
Globalization and free trade have now come to dominate and define business opportunity worldwide. No matter the size of your business you will find that it is now practically impossible to conduct your business without some equipment or raw materials from overseas sources.
Global trade makes it almost impossible to brew a cup of coffee without some implement or ingredient being imported. Perhaps it is the coffee beans, or the brewing machine or the mugs you use to make and serve the coffee in. Some or all of these components would have been imported which means someone exported and made a profit from what you use to run a café serving rich aromatic coffee.
Sitting in a café by the riverside where the mighty Red meets the Assinaboine River at Forks of Winnipeg this global reality is easily accessed through the internet with a website offering Canadian grown products. A customer across the Pacific Ocean in tropical Malaysia can place an order and make payment with just a few clicks of a mouse. From Manitoba organic flax oil rich in omega 3 can then be shipped out to the customer.
Even small retail stores can tap into the export market by creating a website with a payment gateway.
A Canadian business can now continue to sell in the local and United States markets while tapping into the rapidly growing markets of India, China and South East Asia. Healthy Canadian prairie grains and oils definitely have a market amongst the health conscious global middleclass.
There are clear advantages for including an export strategy in your business plan. You can enjoy increased sales in a bigger market beyond North America. A larger market allows businesses to operate at an optimum capacity allowing for maximum profits from multiple sources.
By doing businesses globally you learn from new experiences with distributors and customers in overseas markets. These experiences can stimulate new ideas that lead to product innovation. This can keep you ahead of the competition in a global market that pays a premium for novel solutions and experiences.
Selling in multiple markets reduces your vulnerabilities so that you are not totally dependent on just one market. This reduces your risk exposure to market vulnerabilities.
Exporting globally tends to encourage you to develop globally competitive quality products that sell well domestically too. Additionally quality products can better withstand local competition from global multinational corporations.
Using a website you can target and capture new markets globally. To be effective the following strategic assessments needs to be done:
1. Identify the demographics of your customers locally and in the other markets.
2. Evaluate the need for modifications to your product to appeal to local taste.
3. Find out the best way to deliver your product to the various identified markets.
4. Establish any necessary local representation to promote your product overseas.
5. Ensure that your product quality is acceptable to customers in other countries.
6. Make sure your operation has the capacity to fulfill any increase in demand.
7. Determine your costing strategy and the currency exchange requirements.
With the right marketing plan based on reliable market figures you can succeed in exporting to increase profits and reduce risk in the event of a downturn in the local market.
All businesses are truly global
Globalization and free trade have now come to dominate and define business opportunity worldwide. No matter the size of your business you will find that it is now practically impossible to conduct your business without some equipment or raw materials from overseas sources.
Global trade makes it almost impossible to brew a cup of coffee without some implement or ingredient being imported. Perhaps it is the coffee beans, or the brewing machine or the mugs you use to make and serve the coffee in. Some or all of these components would have been imported which means someone exported and made a profit from what you use to run a café serving rich aromatic coffee.
Sitting in a café by the riverside where the mighty Red meets the Assinaboine River at Forks of Winnipeg this global reality is easily accessed through the internet with a website offering Canadian grown products. A customer across the Pacific Ocean in tropical Malaysia can place an order and make payment with just a few clicks of a mouse. From Manitoba organic flax oil rich in omega 3 can then be shipped out to the customer.
Even small retail stores can tap into the export market by creating a website with a payment gateway.
A Canadian business can now continue to sell in the local and United States markets while tapping into the rapidly growing markets of India, China and South East Asia. Healthy Canadian prairie grains and oils definitely have a market amongst the health conscious global middleclass.
There are clear advantages for including an export strategy in your business plan. You can enjoy increased sales in a bigger market beyond North America. A larger market allows businesses to operate at an optimum capacity allowing for maximum profits from multiple sources.
By doing businesses globally you learn from new experiences with distributors and customers in overseas markets. These experiences can stimulate new ideas that lead to product innovation. This can keep you ahead of the competition in a global market that pays a premium for novel solutions and experiences.
Selling in multiple markets reduces your vulnerabilities so that you are not totally dependent on just one market. This reduces your risk exposure to market vulnerabilities.
Exporting globally tends to encourage you to develop globally competitive quality products that sell well domestically too. Additionally quality products can better withstand local competition from global multinational corporations.
Using a website you can target and capture new markets globally. To be effective the following strategic assessments needs to be done:
1. Identify the demographics of your customers locally and in the other markets.
2. Evaluate the need for modifications to your product to appeal to local taste.
3. Find out the best way to deliver your product to the various identified markets.
4. Establish any necessary local representation to promote your product overseas.
5. Ensure that your product quality is acceptable to customers in other countries.
6. Make sure your operation has the capacity to fulfill any increase in demand.
7. Determine your costing strategy and the currency exchange requirements.
With the right marketing plan based on reliable market figures you can succeed in exporting to increase profits and reduce risk in the event of a downturn in the local market.
Siddha Param
International Business Consultant
www.worldwidebusinessconnection.com
Your connection to global markets!
