Market Entry in Global Markets

It is important that a company undertake international marketing with the same care and consideration that it uses when introducing a product domestically. This means that the company needs to understand the key features of the target market. Such features include the size of the market and its anticipated rate of growth, the stage of development that the market is in, the stage of the product lifecycle that the company would be entering (along with the saturation levels of the market), buyer characteristics, social and cultural factors that influence purchases, and the physical environment (Cavusgil, Zou, & Naidu 480). These considerations are especially applicable if the company is considering marketing a product that already is being sol

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strategies for dealing with existing competitors. It is also very important that the American company recognize the legal environment that pervades the target market ("U.S. Manufacturers" 11). This includes understanding the laws, regulations, codes, tariffs and taxes that apply both to domestic and foreign companies. Some countries, for example, require that foreign companies have a domestic partner before their goods are allowed into the market. Other countries require that no foreign company own more than one-half interest in companies. In other countries, it is common practice to offer "gifts" to officials in order to enhance operating procedures, a practice that is looked upon as bribery by some American companies. If the American company is considering exporting intellectual property, such as computer software, it is important that it understand whether its American copyright protection will be extended in the foreign country. While most major markets ostensibly abide by copyright regulations, some countries are notoriously lax in enforcement (Walters & Toyne 38). At this point, companies need to consider the resources and the financial environment that operates in the target market. This includes the availability
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Approximate Word count = 1617
Approximate Pages = 6 (250 words per page)

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