By: Anson Zong-Liscum
So your thinking about expanding your business internationally? That is a great plan indeed and something any business should go forth with these days. Grow your business and increase your profits. However, have you looked at all the different restirctions and regulations that go along with exporting your products?
Every country contains different restrictions on what can and can’t be imported into their respective countries. Some countries may impose hefty trade tariffs and duty charges on selective produts. Does your product fit within any of these categories that could be given the big red stop sign? Going international poses both risky benefits and negative consequences that could really surprise a company when a sticky situation arises.
As an international company you must do some hefty research into what countries you are allowed to deal with and how the customers may view your products. Products will most likely be priced extremely higher in a foreign country than your own. As a marketer you should take note of all these considerations and do essential research ahead of time. Develop a strong marketing plan to find your target markets and how your products should be sold in those respective countries due to different trade regulations that can change the market of your products.
In the end doing your research on exporting and shipping your products is crucial. Find out how successful you can be and where your product can really benefit and be most successful. Here is a great infographic that gives a great example of real world situations.
Image Via BorderFree