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Chapter 2

GMS 723 Chapter Notes - Chapter 2: Iso 14000, Iso 9000, Alphabet Inc.


Department
Global Management Studies
Course Code
GMS 723
Professor
Michael Manjuris
Chapter
2

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GMS 723- Chapter 2- Launching a Profitable Transaction
1
Commonalities of importing and exporting transaction
1. Terminology
Increasing international interdependency, trade literacy has become as important in
modern business as Internet and computer literacy
2. Homework
Research is one of the keys to winning the trade game
3. Choosing the product or service
Your job will be to sell someone else’s product or service
4. Making contacts
Exporter must convince a domestic manufacturer of his or her ability to sell the
manufactures product or service internationally
Importer must find an overseas manufacturer or middleman from whom to but the
product or services
Contacts sourcing (finding) a manufacturer or provider of the product or service
you wish import or export, Marketing (selling)
Sourcing contracts
Exporterany product or services you select falls into an industry
classification and that industry very likely has an association
Contacts for importers are slightly different to obtain
Start with the nearest consulate office and then contract that
country’s international chamber of commerce
Make contacts through your embassy or through a corresponding
industry association
Direct contact with the government you want to do business with
Establish communications with the overseas contact to seek further
information or to ask for product samples and price
Marketing contactsagents, distributers, wholesalers, retailers
Domestic marketing contractsuse tradeshows, direct sales, direct mail,
and manufacturers representatives, as ell as swap meets, flea markets,
home parties, or wholesalers
Foreign sales representative- residing in a foreign country who acts as a
salesperson for a US manufacturer usually for a commission
Distributor- a firm that (I) sells directly for a manufacturer and (II)
maintains an inventory of the manufacturers goods
International marketers (trader) make contracts through world trade
centers (WTC), trade shows, direct sales, distributors, or an agent
Trade show- includes everything form catalog shows through local
exhibits to major specialized international industry shows exhibitors
offer literature and samples of their products
5. Market research
Vital to the success of your import’/ export business
Rule of thumb “if the market isn’t there, get out of the project and find another
product”
6. What is the bottom line?
Profit is an internal, individualized decision that varies from product to product,
industry to industry and within the market channel
Profit aspect of international trade, beginning with initial quotations
The Personal Decision
Product selection selection is a personal decisiondecision should make common sense
Eg) the American house painter who began making excellent profits exporting a line of
automated painting equipment to Europehe knew the equipment before he began
exporting
Start your business with a product or service with which you have an advantage
Keep it simple
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