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International Marketing; Going Global!

Market Research, Country Information, & Options

When exploring the feasibility of expanding into foreign marketplaces, accurate information is critical. Whether you are one delegate of many on a trade mission, or going it alone, we can provide the research for the business issues, as well as the practical travel issues to consider before your departure.

Market research for the business issues may include:

• Infrastructure and history of industry
• Current level of technology in the industry
• Legislation on ownership and operation in the industry
• Key corporations in the industry/prospective strategic partners and competition
• Governing bodies of regulation
• Professional associations/organizations
• Trade publications and web sites
• Trade shows, conferences, seminars, etc.
• Trade missions from the US targeting this industry.

Options are always welcome in business; we offer clients the options of assisting their in-house staff, or acting as their representative, possibly with some of our team already in the targeted country. As such, we can cost effectively establish strategic partners in new markets, which is key in the global marketplace; partners who know the market, the laws, the customs, the industry, and the people with connections to get the job done.

Another form of research addresses the practical international travel issues. Below are just some of these concerns in our International Travel Checklist:

1.   Money:  

Check monetary exchange rates and currency stability
Check on acceptance of your credit cards in the country you're visiting
Check the expiration dates of your credit cards
Make a record of your credit card numbers and pack separately
Leave at least one credit card in the hotel safe
Make sure you take enough correct currency to cover light expenses
For larger amounts, use traveler's cheques and keep record of their numbers
Plan for emergencies
Carry only as much cash as you need for each day and leave the rest in a hotel safe
Use a money belt or secure inside pocket

2.   Insurance:(see www.e-mergencyInternational.com)

Be sure your policy provides for:
Air ambulance in case you need to be flown home
Getting your family home, in the event of your illness or injury
Medical bills (which can be expensive overseas)
Hazardous sports activities
Transporting the body home, in the event of death

3.   Passports, Visas & I.D.

Check  passport for valid date and record its number, date, and place of   issue 
Plan ahead to give yourself enough time to update you passport if its expired
Check if you will need a visa -- your travel agent or the US Department of State can    
       advise
Take another piece of photo identification (in addition to passport)
Keep your passport in the hotel safe and carry a photocopy with you

4.   Travel & Tickets:

Plan detailed travel logistics with all reservation numbers on person
Buy a return ticket and keep it in a safe place
Weather conditions for clothing and travel arrangements

5.   Medications:

Avoid any involvement with drugs -- the penalties are severe and could include the 
       death sentence
Carry a doctor's prescription for any drugs you may need
Don't carry parcels or luggage through customs for other people
Don't cross land boarders with people you don't know, eg hitch-hikers

6.   Maintain your health:

Check for potable water supply and food safety
Check what vaccinations you need with US Department of State at least six weeks 
       before you travel
Check if your medication is legal in the country you are visiting.  Pack it in your hand 
       luggage
If you are taking prescribed medication, take enough or take the prescription with you 
       and check to see if it is sold in that country prior to leaving

7.   Political Stability/Security Issues:

Check web sites (www.ds-osac.org) for threat of kidnapping or terrorist activities 
Check on proper clothing and jewelry to wear-or not to wear
Report thefts at once to the local police and obtain statement about the loss, which is 
       needed to claim against your insurance
Phone your bank at home about transferring money and canceling credit cards
Contact the issuing agent of your traveler's cheques
See your tour representative or airline agent about your lost or stolen tickets

8.   Other things to consider:

Communication systems (i.e. will your cell phone work?)
American Embassy locations and personnel contacts

 

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