Global markets today present business opportunities on a scale unimaginable to previous generations of business leaders and entrepreneurs. They also expose firms, however, to a broader array of competitors, forcing successful businesses to become increasingly sophisticated in the ways in which they develop, market, and deliver their products and services. As a result, firms seeking to leverage the vast potential of global markets must continually improve both their strategic and operational capabilities.

Strategic Requirements for Successful International Trade:

Given the variability of preferences and requirements across international regions, businesses must develop extensive insight into each of their target markets. Such insight is often extremely challenging to develop across unfamiliar cultures, particularly for smaller-scale firms. Once a clear understanding of the market specific requirements is developed, businesses must customize their products and services to align with the opportunities within each market. In addition, marketing strategies and collateral should be specifically tailored for each market, including language, creative concepts, and delivery mechanisms. Finally, for all but the largest firms, businesses must identify viable trade partners in their target markets and successfully negotiate trade terms that ensure profitability and appropriate protections against unanticipated outcomes.

Operational Requirements for Successful International Trade:

When attempting to compete in international markets, many firms discover that they need to improve their foundational operational capabilities. The complexities of multi-national trade logistics require firms to develop significantly more sophisticated distribution capabilities. Supply chain management capabilities also become important as businesses expand their geographic footprint and their vendor network. In addition, many firms, and particularly those in developing markets, discover that product quality standards can be significantly more rigorous in developed markets. All of these challenges require a foundational focus on process and management sophistication and can require significant investments on the part of firms seeking to successfully compete in international markets.

Promocorp offers a comprehensive range of services designed to help businesses develop the strategic and operational capabilities to access new markets and expand their international trade opportunities. We have developed a broad and integrated approach for international trade enablement for firms that are just beginning to explore multi-national trade. We can also provide very targeted assistance to firms seeking to optimize their current capabilities.

Regardless of a client’s current capabilities, Promocorp’s goal is to empower them to successfully leverage the potential of international markets for business success.