Smooth sailing: Avoid the fate of the Titanic. Embarking 1. 10% of US industrial workforce is employed by foreign companies 2. 25% of US farm acres are.

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Presentation transcript:

Smooth sailing: Avoid the fate of the Titanic

Embarking 1. 10% of US industrial workforce is employed by foreign companies 2. 25% of US farm acres are for export 3. 1/3 of US corporate profits are international 4. 70% US jobs face foreign competition

Globalization 1. Average total cost for expatriate assignment is $250,000 or apx. 300% of salary,40% of expatriate managers terminate their assignments early, costing companies $50,000 to $150, % intl. mergers fail totally; acquiring company never earns back its cost of capital % of International Joint Ventures fail.

Steps for overseas market entry 1. Research & evaluate market and customer 2. Assess your ability to support this market 3. Resources needed: money, time, technology 4. Develop strategy, plan 5. Try to meet face to face 6. Evaluate results (soft side) 7. Follow up meeting 8. Re-evaluate & implement

Estimating Sales Potential 1. Market: accessibility, size, barriers 2. Consumers: willingness to buy 3. Service: advantage, compatibility, complexity, communicability 4. Channel structure: distribution 5. Competition: reaction to entry 6. Research & Evaluation!

Resources: money, time, knowledge Paperwork, forms 2. Communication 3. Marketing 4. Financial 5. Legal 6. Travel 7. CULTURE

Predicting success 1. Like change 2. Enjoy surprises 3. Flexible, patient 4. Willing to learn 5. Language skills 6. Cultural experience

Cloudy areas for “Americans” 1. Capitalist: $$$$$$ Promises: snake oil sales 3. Liberal Arts: where’s Mexico? 4. Technology: hi tech & bad water 5. Hierarchy: don’t call me Juan 6. Culture: arrogant or naive 7. 8:00-5:00: live to work

Slippery spots for marketers 1. Communication: high/low context 2. Time: one/many 3. Community: individual/collective 4. Management: merit, objective analysis, 5. Decision making: sharing/exclusive 6. Master of destiny: proactive/inactive 7. You don’t understand us!