Global Strategy

Global Strategy

Laura Sutton

Global Strategy

Introduction

There are many factors to consider when trying to take a product or a company global. There are many people that need to be pleased and product details considered. Every market has its own needs that need to be observed. Anytime something is taken into a global market there needs to be plentiful research done to make sure the product and company make it into the global battlefield ready to compete and succeed.

Factors that influence local and Foreign Buyers

There are many different factors that influence a local and a foreign buyer. Many buyers are looking something that will do well in many stores and hit large markets of people, making more money for not only their company but make themselves look better. If a product does not have the ability to adapt or provide uses for multiple groups of people, a buyer may not see the item as a great foreign investment. It may be a better idea to look for another idea.

An example of a local buyer for an electronic device would be the people in the buyers area. If they buyer comes from an rural area, they may not want to invest a lot of time into marketing the latest cell phone device. They may, however, see a use in a charging device that could help charge a power tool or even a computer. Many agricultural businesses do rely on computers to fulfill orders, find buyers or even keep a record of their expenses and animals. “Computerized farm accounting and services generally have been developed and pioneered through agricultural extension education facilities of the land-grant colleges.” (Knudston, 84) If they have to take that computer to a place without an outlet, like out into a field, then they could have a use for a device that charges their equipment when they are far away from a much needed power outlet.

A foreign buyer is looking for much of the same thing, except this product has to adapt for every need. In the case of a portable charger, it can work...