Question

You would like to expand overseas into a country like India. What issues do you have to be concerned about in marketing your product in a foreign county?   What avenues or services are available to you if you wanted to market your product overseas? Describe each of the ways.

Answer 1

answer-

The key issues that i have to be concerned about in marketing my product in foreign country like India are-

Social and cultural issues-

This is very important issue because each country have thier own culture and social preferences. India is one of the country having range of culture and different societies like Hindu culture, Muslim Culture,Punjabi/sikh culture etc. Company needes to identify its target market and how thier culture can affect their business.

for example- Hindu culture people do not eat meat so if a fast food chain company is opening a franchise and offering beef menu then Hindu customers will not order that menu.

Customer's preference and Taste-

In each country, there are different types of customers. In india, People are attracted to those products which are cheaper with good quality. High priced products for which there are many alternatives and substitutes are present will not survive in market.

Laws and political system-

Company need to gather information related to legal system and political structure of India before expansion. The laws related to employment, competition, sales, marketing etc can be different from home country. so Company need to make sure they do business by complying the laws of India.

The services or avenues are available to me for market of my product overseas are-

Social media-

Social media is one of the best way to market my product overseas because it is widely used by Indian people as well as in other countries. It is cost effective and reaches to masses in less time. I can promote or market my product on FB, youtube,Instagram etc.

Advertising company-

I can hire indian advertising company to create ads on TV, Boards, Newspapers etc. so that Indian people would know more about my products.

for example- I want to sell new energy drink to Indian people so i would hire Hrithik roshan or Akshay kumar as Famous celebrity to promote my product in India over TV and other advertising platforms.

Intermediaries-

Suppliers and retialers can also be used to market my product. I would send samples to all suppliers and retailers to tell thier customers about my product..