When the brand is gradually growing, many enterprises will start to think about the possibility of globalization, but expanding the overseas market is not as simple as imagined. In the process of expanding the global market, enterprises need to have a long-term and complete development plan. The vigorous development of the Internet has made the boundaries of national markets more and more blurred. However, in the process of globalization, enterprises can only compete with local companies with a long history on the premise that financial resources and human resources are in place, local language operation and sales networks are established, local laws and regulations are fully understood, and foreign cultures are adapted.
Preparations for attacking overseas markets
1.Adequate financial resources
It is difficult to readjust the organization-based preparations afterward. Unlike human-based preparations, they are relatively easy to readjust afterward. The key is money. If the domestic enterprises are not stable, it is very easy that the overseas business has not been successful, and the financial assistance to the overseas market will be cut off. Therefore, we should first prepare a 5-year financial forecast, and then make financial planning according to the 5-year forecast, and be ready to face various market changes.
2.Improve the quality of market research
Enterprises that want to expand overseas will do market research first, but each enterprise has different standards for the quality of market research results, which will affect the positioning of new market brands. How can we improve the accuracy of market research? The key point is to understand the market of the country. In some overseas markets, even the president takes part by himself in the evaluation and investigation. Even if he is busy, he has to find enough time to do the investigation. The advantage is that the decision-making is very fast. It is better that the sooner the people who decide to assign operations in the future contact the market research. In addition to the original high-level views, they can also reinforce the problems seen from the field view, so as to reduce the frequency of cognitive differences after entering the market.
3. Transparent decision-making mechanism
The decision-making provisions should be determined before the flag is placed in the overseas market. Who makes the decision? The overseas situation usually requires different norms. Is it decided by different authorities in the past? These issues must be taken seriously. Who can quickly respond to market demand? What I fear most is that when I encounter problems overseas, I just start to coordinate the decision-making mechanism. It has been several months since the headquarters agreed to the new decision-making mechanism, and it is difficult to adjust flexibly. If we can make a good decision mechanism in advance, we can make communication between overseas and headquarters more smooth.
4.Flexible personnel utilization
Who will be assigned to take charge of the overseas market? No matter who is sent, there are different purposes at different stages. But when will this person be sent back? When the business develops successfully, loses money to a certain stage, or forces a replacement many years later, it is better to have a basic standard for the conditions of overseas managers’ assignment. The overseas market is an environment with greater pressure and pace than the domestic market. The physical and mental health of local managers in the overseas market will affect the success or failure of their careers. If they cannot meet the expectations of the headquarters, flexible staffing plans are needed to adjust personnel. If this position is a good one for strength training, it is even more necessary to appropriately change the experience of different people. After having many managers who have experience in overseas operations, they will go to the next market, which will increase the probability of success.
Strategies for attacking overseas markets
It is a good way to make yourself known and exposed as much as possible so that partners can actively know you and find you. Participation in exhibitions is also a good way to accept media collection and release, and do their best to find channels.
2.Find a Partition Agent
Most cooperative dealers still hope that you have agents to handle inspection, customs clearance, and warehousing logistics. The import regulations are different in each region of the mainland, and only local people can make them. Finding local agents is also an important link in expanding overseas business.
3. Seize the two major markets of Thailand and Vietnam
Thailand and Vietnam are the Southeast Asian markets that must be seized. 80% of all consumer goods in Myanmar, Laos, and Cambodia are imported from Thailand. Consumers here will only pay for what they see through the Thai channel. Vietnam is the second largest country in Southeast Asia after Indonesia in population, and the domestic demand market is also very considerable. In a research report in 2008, AT Kearney Consulting Company of the United States pointed out that Vietnam surpassed India, China, and Russia for the first time and became the most promising emerging consumer market in the world. Vietnam’s growing new consumer population, relatively low land costs, and less competition are the most suitable markets for investment in domestic retail.
4. Brand management
Most enterprises that have entered the global market misunderstand the importance and promotion of brands. Nowadays, many enterprises still confuse advertising communication with brand building. Although many enterprises recognize the importance of brands, they have not invested corresponding resources early to support the overseas brand promotion. In the process of entering the global market, it is greatly significance to carry out the brand layouts as early as possible and clearly understand the influence of brands on enterprises. A strong brand can not only attract consumers and customers but also lay the foundation for a good relationship between the government and stakeholders. At the same time, it can also help enterprises attract local talents and promote cooperation between enterprises and distributors, and suppliers.
It is impossible to see through consumers’ deep-rooted habits just from their appearance because Western-style dressing is not equivalent to the westernization of ideas. If you don’t know the final consumers first, it is difficult to defeat the local businessmen and the old-brand foreign business. Expanding overseas market “people” is always the key. Chinese business organizations from various countries, international universities, as well as Asian students from the National Chengchi University of Political Science, the National Cheng Kung University, and other countries studying in Taiwan, are all cross-cultural talent pools that manufacturers can use to attack overseas markets.
What is standardization、Specification? It means that the size, weight, color, and even taste should be the same, so that consumers can know that your product is the most intuitive, just like Din Tai Fung promised that no matter where you eat their soup dumplings, they must be 18-fold. Using standardization、Specification can effectively help you build a brand image and manage product quality.
7. Continuous research、development and innovation
Can your brand continue to bring new things to consumers? The advantage of Taiwan’s food industry lies in its emphasis on research and development, variety improvement, and cultivation techniques. No matter how powerful the secret recipe of your product is, it is easy to learn it after a long time. Only by raising the technical threshold, transformation and upgrading is the best way.
Are you ready to enter the international arena? Everything is just a starting point, and there are few who have really successfully deployed their troops overseas and expanded their territory. Doing well in advance preparation and strategy can help you get a stitch in time saves nine! If you want to know more, please contact Ying Xuan Zhuang. We are committed to promoting all kinds of Taiwanese food all over Taiwan and selling it all over the world. With complete and high-quality supplier resources and partners, we can provide up to 500 kinds of goods to meet the different needs of customers. A professional team, actively expanding overseas strongholds, is committed to entering independent foreign supermarkets, foreign food wholesalers, foreign chain stores, etc.