SUGGESTIONS AND STRATEGIES FOR BRANDS TO OPEN ABROAD
All companies must adapt to this new order to survive in today's world. The companies have to reshape their brands accordingly, in this new order where global competition rules are considered valid.
We will emphasize on the issues of today's marketing world that changes and develops with globalization include the points that companies should consider when opening abroad and their importance in becoming a global brand.
1- First of all, the firm must decide in which geography it needs to advance and develop according to its sphere of influence abroad. For instance, it can consider developing markets as growth areas. One of goals should be to deliver the products more people and to add new costumers to target audience and exceed the number of active countries.
2- In addition to growth strategy in the existing markets abroad, inreasing the number of countries by marketing products or services in different countries and expanding in these markets allows to distrubite the risks that may be encountered globally and to be less affected by them.
3- Communication Investments aimed at increasing the awareness of the brand abroad and more visible projects to consumers should be on the agenda. It is necessary to become a brand in developed and high-consumption markets, to exist abroad more effectively and to increase the profit margin in these markets.
4- While you are getting stronger in nearby geographies where you are strong, it is necessary to seize great opportunities in developed geographies where consumption is high, and it is necessary to play an active role in these markets.
5- One of the basic formulas for the success of the companies' business activities in international markets is based on their ability to adapt to international markets. Ignoring or neglecting that foreign companies have different economic and social cultures raises serious questions that can lead to significant disappoinments and losses for foreign firms.
6- The most important feature that companies should evaluate when opening to the international market and dealing with the foreign market is the economic characteristics of the consumers in the foreign market.
Source: Mr. Ahmet Polat