Problems+entering+new+markets+abroad


 * Objective**:
 * Demonstrate an understanding of problems of entering new markets abroad
 * Show an awareness of methods of dealing with these issues

It is not easy to enter a new market, and if that market is abroad, it can be even more difficult.

Some of the obstacles businesses can face are as follows:

Risk of failure in the market is high || Can you trust your translator? ||
 * ~ **Problem** ||~ **Possible solution** ||~ **Additional thoughts** ||
 * Local competition || * Marketing, invest and target the right audience.
 * Form partnerships or joint ventures
 * Build a factory in the country to provide jobs, be a customer to suppliers, provide a service etc || Can be expensive to market and could result in low returns
 * Lack of local knowledge - of culture, economy, wants and needs, local laws || * Do extensive research first. Learn about the country and their ways - surveys
 * Connect with the government and meet requirements etc || Most likely to be secondary research as primary is expensive and difficult ||
 * Language barriers || * Get translators to assist or even learn the language || Learning a language is a long and hard process.
 * Costs of land and capital || * Purchase an existing firm or look for inexpenisve coutries || Need to know the laws, culture etc ||
 * No brand established so unknown to market || * Market directly to the country || You will need contacts or an agent to enable access to the market. ||