Company Profile - Kompass (April '09) Continued

A Strong Marketing Strategy
Once you have identified a market that offers your company a viable international opportunity, it is important to develop a competitive marketing strategy. With the use of in-depth market research you can further understand the market you are looking to penetrate. Visiting the market itself is key and talking to similar business owners and suppliers is useful to get an understanding of how business is conducted differently outside of the UK.

Ask yourself a few important questions:

• Is your product of the highest possible quality? Launching into an international market with even the smallest flaw on your product can cause potential long-term damage, not only to your brand overseas, but also back in the UK
• Is your product priced appropriately for the new market? Make sure you have researched similar products and their pricing structure before you make any important decisions. Is your product competitive in the new market?
• How are you taking your product to market? Consider the popularity of different media. Don’t just rely on those that have previously been successful in the UK.

To advertise your product overseas you will require a truly global platform. Kompass advertising enables you to advertise your product or service to potential customers in 26 different languages, whilst Kompass business information will help you find suitable potential customers for your targeted activity.

Product Distribution
Is it possible for you to sell your product directly into your new market? Do you need to find a distributor for your product? If so, finding the right one is important and could reduce your costs substantially. You can research potential distributors using Kompass to identify who already covers your prospective markets, as they should be able to reduce costs by combining your products with other shipments.

Check out your potential customers
How about international suppliers approaching you for business? Our link to the official EU Tender System allows us to provide our advertisers with access to our unique Tender Service and the opportunity to bid for new business. With an average of 700 public sector invitations to tender published daily, you have the opportunity to generate new business with relevant tenders sent straight to your inbox.

Kompass provides businesses with the perfect tool to grow their business both within the UK and overseas, with international advertising opportunities across 66 countries, access to EU Tender Invitations, plus access to business information on over 2.3 million companies worldwide, Kompass is a vital tool to help you succeed when growing your business overseas. Tel: 0800 0372275 or Email: kompass.sales@reedinfo.co.uk


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