International Business Essay - 1971 Words

Chapter12Assignment p. 354 Review Questions 3 AND 9 (3) What are the four caveats exporting SMEs would be well advised to observe when crafting their export strategy? Discuss. The term export means to ship the goods and services out of the port of a country. An export of a good occurs when there is a change of ownership from a resident to a non-resident. Methods of export include a product or good or information being mailed, hand-delivered, shipped by air, shipped by boat, or even downloaded from an internet site. When a SME considers exporting abroad, there are four caveats that they should observe while crafting their export strategy. The four caveats exporting SMEs would be well advised to observe when crafting their export†¦show more content†¦Entering a country with a â€Å"big boom† could damage your business. It is smartest to enter a new market with minimal product lines to minimize the risk associated with getting started in a new country. For example, if Tide detergent was to begin operations in China, they should not enter the market with their entire line of products. Tide has many different types of detergents. If they were to enter a new market with all of these, it would likely be confusing and overwhelming for a new customer to choose between all of the different products. Likely, that customer would rather stick to their current detergents than be faced with a big decision on which new product is right for them. Third, exporting SMEs would be well advised to observe hire and involve locals within your organization at the earliest opportunity when crafting their export strategy. Exporting allows managers to exercise operation control but does not provide them the option to exercise as much marketing control. An exporter usually resides far from the end consumer and often enlists various intermediaries to manage marketing activities. For example, direct selling is often used when SMEs begin to export. Direct selling involves sales representatives, distributors, or retailers who ar e located outside the exporters home country. Direct exports are goods and services that are sold to an independent party outside of the exporter’s home country. Fourth, exporting SMEs would beShow MoreRelatedInternational Business Ventures2671 Words   |  11 PagesInternational Business Ventures Measuring a potential business venture has many aspects which the international manager must be aware of in order to convey the correct information back to the decision makers. Being ignorant to any of the aspects can lead to a false representation of the project, and hence an uninformed decision being passed. In order for a business to survive it must grow. 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