Tapping into a foreign market is a lucrative endeavour in today’s business climate, with many stories of large corporations striking gold.
Take a look at Starbucks’s revival resulting from its enormously successful expansion in the Chinese market; CEO of Starbucks, Howard Schultz, has laid out plans to establish 5,000 stores by 2024 in China.
Deciding to enter a foreign market comes during prime time when technology has graced businesses with a global reach.
However, smaller-scale companies can also have a share of the overseas market and succeed in their own respective rights.
Building a competitive marketing strategy is hence integral to whether you’ll rise above existing foreign competition.
This move does come with its own set of caution, since there’s always a risk of manipulation and fraud.