Video Transcript

00:27 Cathy Martine: Well, I think the ability for a small business to research a market before they actually enter it is really enabled by search tools. The ability for them to go online and to download a lot of information about a specific country: Rules, regulations, import, customs, duties. There's a number of things they may not know about until they've actually done their research, and the ability of the Internet to make all of that available through a few functional commands allows a customer to operate virtually from their home necessarily to really learn about the market before they should choose to do a business plan to actually enter that market.

01:00 Paula Murphy: The international marketing strategy is gonna be very similar to a domestic marketing strategy. As far as elements that may be included in their business plan, a company is also gonna have to be looking at those issues as well. They're gonna be doing research on the market. They're going to need to do an analysis of how they're gonna price the product, technical issues related to the product. So, in many ways an international marketing plan or an international business plan does parallel very much a domestic business plan, but perhaps there's a little greater emphasis on the marketing and the channel development that they're gonna need to look at each unique market to determine how they want to get in.

01:40 Dan Nanigian: The way I promote myself here is the way I can promote myself overseas. It doesn't have to be done totally differently. The difficulty is finding out what specific channels you wanna use. For instance, in the states, we know certain trade journals that we wanna advertise in, and we want to market ourselves in. And overseas, the difficulty is no one's gonna show up with that list of trade journals. So, what we did is we tried to locate resellers that would sell our product or were already selling into our industry, have them represent us, and then really, not only work with them to sell our product, but work with them to understand the market and what were those trade journals, what trade shows, what conferences were important to their client base. And then we just took what we were doing here, and now that we had this group of magazines and journals, we were gonna market overseas as well. We needed to translate or we felt we needed to translate it into the local language. We've done that.

02:48 Amy Frey: Today, the internet makes it so much easier. You have the ability to go online and to put in keywords, industry specific terms, keywords that are relevant to your product or your service. Targeting a certain region or a certain area of the world that you're going to be going and visiting, and looking for associations, companies, government organizations, and I bring it back to the Foreign Commercial Service, the US Department of Commerce's arm overseas is just a wealth of information. So, for anybody that's trying to do the research, there is just a plethora of opportunities for you to tap into beginning with the Internet and certainly paralleling that, whatever the US Foreign Commercial Service is offering from that particular company.

03:47 Lawunmi Famuagun: And then take advantage of the government agencies out there. Go talk to them, schedule interviews on the phone, attend conferences that they do, and just listen to other people that have been there, and you will gain one or two things from them.

04:02 DN: So, we are moving in the same direction overseas in our marketing and promotion and advertising and branding as we moved in here. So, we're doing some of the similar tasks. The trouble is finding it up front, and I think one of the best ways that we discovered this was not only to interview our resellers, but also to interview our customers that were over there. Asking them, "What trade shows do you go to? What journals do you read? What's important to you when you look for a new vendor or a new supplier? How do you go about doing that? What resources did you turn to?" And then really listen closely to what they're telling you and just follow through on it, the same way you might here in the States.