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Factors to be reckoned by India and Indian firms as a prerequite of their gobal endeavour
1. FACTORS TO BE RECKONED BY INDIA
AND INDIAN FIRMS AS A
PREREQUISTE OF THEIR GLOBAL
ENDEAVOUR
JAY PARDASANI
15
INTERNATIONAL MARKETING
2. Optimal use of Natural Resources.
International co-operation and understanding.
Exchange of technical know-how and establishment of
new industries.
Increase in efficiency due to international competition.
WHY TO GO GLOBAL?
3. Development of means of transportation and
communication.
Creates jobs.
Offers a way out to seasonal fluctuations.
Enhance company’s prestige
Increase in sale and profit.
4. Conduct market research to identify your prime target
markets:
Market research is a powerful tool for the exploring and
identifying the fastest growing, most penetrable market.
Prepare your product for export:
Make your product best in its class and you will be able to sell
it anywhere in the world.
Factors To Be Reckoned By Indian Firms
5. Set up terms, conditions and other financing options:
Agree on terms of payment in advance and never sell on
open account to a brand new customer.
Brush up on your documentations and export licensing
procedures:
Hire a freight forwarder who can fill you in on the spot. Use
their expertise to your advantage.
Get company – Wide commitment:
Every employee should be vital member of your
international team.
6. Explore cross-border alliance and partnership:
Consider joining forces with another company of a similar
size and market presence that’s located in a foreign
country.