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When should a firm consider expanding from strictly domestic tade to international trade?
Wiki User
∙ 11y ago
The answer lies in the reason the company is looking outside it domestic base of operation. Would my product be more marketable and just as profitable in an international market.? The product may be more marketable and just as profitable in another part of the world. Is my product somewhat unique to another part of the world? My present market is saturated and growth or even decline may be likely. International trade has many barriers however: physical, cultural, tariffs and trade restrictions, political and legal obstacles, and in some areas of the world unpredictability. Competition and price should not be a factor, if it is and if cannot hold in your own in these areas, then you probably shouldn't consider this venture. You may want to place it safe as in perhaps staying in a free trade area, concentrate your new market in a nation that is in your proximity,utilize a country with a common market and similar customs. If you are inexperienced in foreign markets consider utilizing an export broker or start small and slowly build trust and confidence in this market.
Wiki User
∙ 11y ago
Wiki User
∙ 10y agowhen should a firm consider expanding internationally
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