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Taking over such a position allows you to build strong brand equity , increase sales, etc. However, this requires a quick response to changes and a flexible approach to take advantage of emerging opportunities. DEFECTS Cultural barrier - differences resulting from different customs and culture can significantly affect the pace of company development, so this aspect should not be underestimated. Ignorance of the applicable rules in business or customer relations may have unpleasant consequences.

Financial risk - every investment of this type involves some risk, because sometimes due to external factors or organizational philippines photo editor shortcomings, returns will turn out to be lower than expected. Therefore, it is worth conducting a risk analysis and identifying possible threats to the company's foreign expansion. Strategies for entering foreign markets There are many ways to apply a strategy to enter foreign markets. Below are some of them.



Export It involves producing goods in the home country and then shipping and selling them on the foreign market. It allows you to save on production costs if they are higher abroad than in your home country. On the other hand, you should take into account the costs related to transport, any fees, distribution, etc. Strategic partnership Another solution is to enter into cooperation with another business entity on the basis of a statistical alliance . In this way, enterprises can share their resources, technology, experience and know-how to develop together and conquer the foreign market.