Many factors should be considered when entering an international market. The first consideration is the entry mode. Many companies choose to enter the international market via licensing, whereas others may be better suited to acquisition. PWC, one of the four global accountancy firms, explains that there are several entry modes. Each option has pros and cons, and the correct choice depends on a number of factors. This article will highlight several of the most important factors.
Age is an important factor in domestic and international marketing. If you are trying to sell laptops to senior citizens in a third world country, you may find it hard to reach them. Perhaps they are computer illiterate. Similarly, if you are selling laptops to senior citizens in a developing country, you might not want to market them. You have to determine the demographics of your target market so you can tailor your marketing strategy accordingly.
Language is another issue. If your target market has different dialects, or even different nationalities, it may prove impossible to sell your product. In addition, a different culture can mean different eating habits. For example, McDonald’s had to alter its image in India. It introduced vegetarian and regional dishes. Wendy’s also introduced rice dishes to Asian markets. So, while language is an important factor, there are other aspects of international business that are worth considering.