In considering business expansion, management will need to identify and develop new markets for existing company products or services.
Market development goes beyond simply shipping products into another country and involves developing strategies to target similar or new demographic groups. Sales, distribution, and marketing techniques will be different in foreign markets to comply with in-country standards. Distribution channels may vary and may include agents (sales reps), stocking distributors or be dominated by small retailers, family owned businesses, or existing multinationals. Selecting the right channel will require time and effort. This is no easy task, but the right approach can yield good candidates. CIMA identifies and qualifies distribution channels, per client needs and parameters, helping the company minimize the waste of time and resources.
Our method involves research, in-country visits, interviews, and similar due diligence processes. Once candidates have been identified, we set up meetings for the parties to connect, pick up the client at the airport, go to meeting places, visit distributor facilities, etc. –we basically take the client by the hand in the foreign country.
