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UNIT 1. Overcoming cultural differences

BEFORE YOU READ

1. Reasons to enter the international marketplace and how to enjoy new export opportunities

• Increase sales. If your business is succeeding in the domestic country  expanding globally will likely improve overall revenue.
• Improve profits. Many export markets may be not as competitive as you and therefore price pressures are far less
• Short-term security. Your business will be less vulnerable to periodic fluctuations and downturns in the domestic economy and marketplace.
• Long-term security.
• Increase innovation. Extending your customer base internationally can help you finance new product development.
• Exclusivity. Your company’s management may have exclusive market information about foreign customers/prospects, marketplaces or market situations that are not known to others.
• Economies of scale. Exporting is an excellent way to expand your business with products that are more widely accepted around the world.