Keys to internationalisation

When you prepare an internationalisation strategy or marketing plan adapted to a market, you need to perform a detailed investigation. The more you know the details of the market, the aspects that directly affect your activity sector and those of a more general nature, the less likely you will commit errors that could have been avoided.

How do you approach this investigation?

The first step in prospecting markets abroad is the collection and analysis of up-to-date, correct and detailed information about your target market. We would recommend that you begin by making a list and prioritise the items to investigate.

There will be a great many things that you can investigate at source. That is, without actually leaving your market. Furthermore, in an initial phase this is what is recommended. Before incurring travel expenses to potential markets there is a great deal of information you can find out from your office. These action types are explained below.

Select and analyse the information already published about the market. At source you can obtain sufficient information to evaluate the economic, political and social environment of the country. You can also investigate the marketing mix and determine if your products or services are appropriate to the characteristics of the market or if they are going to need to be adapted. Consulting databases and different information sources you con find out economic data of the country, import and export levels in your sector, the presence of other foreign companies, etc.

Where can this information be found?

• byGalicia helps you
  In the first place, ask us. In byGalicia you will find information about markets, expert advice to answer your questions, information about legal and commercial aspects. Ask us your questions, participate in our forums and byGalicia will give you solutions.
• More information sources
  Public organisations promoting activities abroad are a very valuable source of information. Visit ICEX, independent organisations promoting activities abroad, visit the Plan Foexga web page. Go to the links section of the portal. We offer you a list of sources of information.
• Internet
  The amount of information you can get from the Internet is enormous. To do this, the most important thing is to keep everything in perspective and not deviate from the search criteria marked at the beginning. Selecting good information from bad is a difficult task. Prioritise official sources.
  The type of information you find on the Internet is very broad. Evaluate its usefulness, usability and accuracy.

What should be investigated?

• On the Internet you can find objective data such as: country situation, political regime, infrastructure, trade balance, GDP, per capita income, population, growth, etc.
• You must also find out about the legal framework: the legislation applicable to the product or services, all information relating to tariffs, quotas and tax, special measures, standardisation, etc.
• With the help of the Internet you can also get an idea about the activity sector: competition, growths data, changes and technological developments, market segmentation, distribution channels, prices, etc.

After a preliminary investigation and once you have decided on your market, there are a series questions that require you to visit the market. The selection of the distributor or local partner, for example, are not questions that can be answered from your office without knowing and visiting the destination country.

Visiting the country also gives you an idea of what the market is like, as well as showing you what type of commercialisation channels would be most appropriate. You can get to know the retailer in person, to what extent of development of the distribution channels and the positioning of the competition.

Investigating on site incurs lots of expenses. It is expensive just travelling to the country especially in the case of long-distance markets. With this in mind, you need to plan your trip well and have very clear objectives. The section Visit the market on the portal lists all points that should not be overlooked.

The Industry and Innovation Bureau wants to place at your disposal all public aid mechanisms that exist to finance your market research and prospecting actions. In addition to these individual actions, the Industry and Innovation Bureau, via the Foexga Plan (www.foexga.org) subsidises a set of collective market prospecting actions by means of direct and inverse missions. There is an extensive yearly programme of actions aimed at different markets. If your interests coincide, find out about them.

• International marketing strategies
• The role of the environment
• Information systems in international markets
• Positioning in international markets
• International product
• Establishing prices
• Distribution channels
• International communication