Every day, we talk about international business.
Today international business and traveling is household discussion. As you
mention this every day, do you know the meaning? Some people knows the meaning
while more than 60% do not know the meaning. For us to further we must not fail
to define international trade in brief.
International trade means a trade that takes place
between two or more people in two or more different countries. Example of such
trade is when Mr. B in country A imports a Commodity from Mr. X in Country C
and export same goods to Mr. M in country Y. This type of trade is in deeper
definition called interport trade under international trade.
It is easy to start an international company, but very
difficult to control depending on the type of business you have designed to engage
in and which countries you intend to shuttle the business in. You will need to
establish a home office, and in most cases you will need to establish an
international presence by either establishing an overseas corporate subsidiary
or opening an offshore representative office. The basic framework for
establishing an international company is more or less the same for any
business.
International marketing research plays an important role, in
the identification and development of company strategies for
internationalization. It enables a businessman to identify, evaluate and
compare potential foreign market opportunities including sellers and buyers and
develop a marketing proposal. Research also provides a company with foreign
market intelligence to help it anticipate events, take appropriate action, and
prepare for global changes.
Before the Internet, businesses had
to invest considerable sums of money in international marketing research, which
meant that only the largest companies could afford to do so. Today, any person with a private/laptop can conduct
a substantial amount of international marketing research all within a matter of
hours. Of course, the multinationals still have far much better research
resources at their disposal, but small import-export businesses can now get
almost all the research they need for successful world trade at a price they
can easily afford.
Information on the web are available from many
different sources ranging from personal home pages to government, websites and
professional statistical and information services. As a rule of thumb, you are
more likely to find current, accurate, objective and in depth information from
Websites run by professional information services and government bodies. Not
only do they congregate and categorize the information into easy to use
formats, but they also have a profit motive that drives them to make sure they
provide the best information available. Before the advent of the Internet, you
would have expected to pay a few hundred to several thousand dollars for
marketing research information in printed and CD forms. Today, the intenet has
enabled information and technology companies to provide the world with the same
information online for prices starting as low as N1500 per month from online
databases.
To start online international
marketing research, begin with free resources that give you a cursory analysis
of general market variables such as economic and social indicators,
political analysis, and other summary country data. Start with the CIA World
Fact Books, VRBMC (www.vestersms.com) which
gives you technological, political, business, trade and economic fact sheets of
all countries in the universe. Other reasonable and viable resources for
preliminary international marketing research include websites belonging to trade
associations and government agencies worldwide. Find them with the help of
Vester Royal Business Magnet Company. www.vestersms.com.
Once you have identified countries
that warrant detailed investigation, you now need to use resources that give
you a more detailed assessment of the industry market potential. At this stage,
these resources should give you an indication of the demand and supply
patterns, enable evaluation of regulations and standards, and identify the best
market potentials for specific products. Free and fee-based services will come
in handy at this stage. Websites belonging to foreign trade associations,
embassies and trade missions will get you started on foreign regulations and
requirements, most often for free. The harder task of evaluating demand and
supply in your industry can be accomplished using several resources. Vester
Royal Business Magnet Company (www.vestersms.com) collects business, trade and
economic information from about 30 government agencies and is major source for
you, industry and market intelligence and reports on other information are
available.
Looking at customs or port records of imports
and exports of a country is a great way to determine not only the demand and
supply system, but also know who the major buyers and suppliers in your
industry are. One service that provides such information is available online at A third resource for industry analysis would
be the archives of business publications, industry journals and newspapers of a
particular country. Going through past articles on your industry will give you
a picture on the trends, business practices and general environment in that
industry. These archives are available either directly from each publication
website or from archive search services.
The final stage in online
international marketing research is the locating and detailed evaluation of
potential foreign business partners to determine their capabilities and
competitive standing. You want to make sure that your foreign partner, client,
supplier or buyer is able to work with you, pay you and help you meet your
organizational goals. Getting a list of potential partners, clients, buyers or
suppliers can be done using traditional offline methods as well as using online
resources such as the International marketing research plays an important role
in the identification and development of a company’s strategies for
internationalization. It enables a business to identify, evaluate and compare
potential foreign market opportunities and develop a marketing strategy.
Research also provides a company with foreign market intelligence to help it
anticipate events, take appropriate action, and prepare for global
changes/challenges. Before the Internet, businesses had to invest considerable
sums of money in international marketing research, which meant that only the
largest companies could afford to do so. Today, just about any person with a private
computer/laptop can conduct a substantial amount of international marketing
research all within a matter of hours. Of course, the multi-nationals still
have far much better research resources at their disposal, but small
import-export businesses can now get almost all the research they need for
successful world trade at a price they can easily afford.
Information
on the Web are available from many different sources ranging from personal
home pages to corporate Web sites and professional statistical and
information services. As a rule of thumb, you are more likely to find
current, accurate, objective and in depth information from Web sites run by
professional information services and government bodies. Not only do they
congregate and categorize the information into easy to use formats, but they
also have a profit motive that drives them to make sure they provide the best
information available. Before the advent of the Internet, you would have
expected to pay a few hundred to several thousand dollars for marketing
research information in printed and CD forms. Today, the Net has enabled
information companies to provide you with the same information online for
prices starting N1500 per month for online from
databases.
To
start off your online international marketing research, begin with free
resources that give you a cursory analysis of general market variables such
as GNP, economic and social indicators, political analysis, and other summary
country data. Start with the CIA World Fact Book which gives you a political,
business, trade and economic fact sheet on all countries around the world.
Other good resources for preliminary international marketing research include
Web sites belonging to trade associations and government agencies worldwide.
Find them with your favorite search engine or directory.
|
Once you have identified countries
that warrant detailed investigation, you now need to use resources that give
you a more detailed assessment of the industry market potential. At this stage,
these resources should give you an indication of the demand and supply
patterns, enable evaluation of regulations and standards, and identify the best
market potential for specific products. Free and fee-based services will come
in handy at this stage. websites belonging to foreign trade associations,
embassies and trade missions will get you started on foreign regulations and
requirements, most often for free. The harder task of evaluating demand and
supply in your industry can be accomplished using several resources. Vester Royal Business Magnet Company collects, political business, trade and economic information
from 30 government agencies and is an invaluable source for country, industry
and market intelligence and reports.
Looking at customs or port records
of imports and exports flowing through a country is a great way to judge not
only the demand and supply patterns, but also know who the major buyers and suppliers
in your industry are. A third resource for industry analysis would be the
archives of business publications, industry journals and newspapers of a
particular country. Going through past articles on your industry will give you
a picture on the trends, business practices and general environment in that industry.
These archives are available either directly from each publication#s Web site
or from archive search services, such as the Global Business Intellibase. The
final stage in online international marketing research is the locating and
detailed evaluation of potential foreign business partners to determine their
capabilities and competitive standing. You want to make sure that your foreign
partner, supplier or buyer is able to work with you, pay you and help you meet
your organizational goals. Getting a list of potential partners, buyers or
suppliers can be done using traditional offline methods as well as using online
resources such as the Access Global Business Toolkit. With a list at hand, the
next thing would be to make sure that these companies actually exist and if
they do, what their performance and status is. Several services including Dun
& Bradstreet,EFCC, Hoppenstedt, Kompass, Banks, Teikoku and ICC can give
you detailed financial, historical and credit information and evaluations on
companies worldwide. The cost for this information ranges between N5000 and N50000
per report, depending on the level of detail required and the location of the
company being researched on. Generally, reports on companies in the USA cost
the lowest because of the lower cost and difficulty of obtaining corporate data
there. All of these services can be obtaind from the Vester Royal Business Magnet Company.
As a new international marketing
research tool, the Internet benefits everyone. The information suppliers are
able to offer more selective, dynamic and up to date information to a larger
number of users while saving on publishing, distribution and other costs. Users
worldwide are able to get information that was previously impossible or too
expensive to come by. And they can get it right from their private
computer/laptop 24hrs a day at a reasonable cost or free of charge. But the
biggest benefits go to the small importers and exporters, giving them a fairer
playing field, the power of information, and access to new markets worldwide.
With a list at hand, the next thing
would be to make sure that these companies actually exist, this is done by
means of verification through the internet connections and if they do, what
their performance and status is. Several services including, CAC, Banks, Dun
& Bradstreet, Hoppenstedt, Kopsas, Teikoku, EFCC and ICC can give you
detailed financial, historical and credit information and evaluations on
companies worldwide. The cost for this information ranges between N5, 000 to N50,
000 per report, depending on the level of detail required and the location of
the company being researched on. Generally, reports on companies in the Nigeria
and USA cost the lowest because of the lower cost and difficulty of obtaining
corporate data there. All of these services can be obtained from Vester Royal Business Magnet Company.
As a new international marketing
research tool, the Internet benefits everybody. The information suppliers are
able to offer more selective, dynamic and up to date information to a larger
number of users while saving on publishing, distribution and other costs. Users
worldwide are able to get information that was previously impossible or too
expensive to come by. And they can get it right from their private computer
24hrs in a day at a reasonable cost or free of charge. But the biggest benefits
goes to the small importers and exporters, giving them a fair playing ground,
the power of information, and access to new markets worldwide.
As you may wish to know in
international business, there are two major groups Import and Export traders. Importers are those that engage in brought
goods from other countries into their country for sell; while exporters are those
that send goods away from their countries to other countries for sell. One
question remains and that question is, what of services? Services are inclusive
in international business. When Mr. A in Nigeria is rendering service to a Mr B
in Ghana it is international service and it is under international trade.
·
Vester Royal Business Magnet Company): Is one of the companies that handles export
operations for a domestic company that wants to sell its product overseas but
doesn't know how (and perhaps doesn't want to know how). Vester Royal
Business Magnet Company does it by hiring dealers, distributors and
representatives; handling advertisement, marketing and promotions; overseeing
marking and packaging; arranging shipping; and sometimes arranging financing on
their behalf. In some cases, the VRBMC takes title to the goods, in essence
becoming its own distributor. VRBMC
usually specialize by product, foreign market or both, and--unless they've
taken title--are paid by commission, salary or retainer plus commission.
·
Vester Royal Business Magnet Company: Has no merchandise of his own to sell but is
using her energies to seek out buyers, and suppliers. She identifies what
foreign buyers want to spend their money on and then hunts down domestic
sources willing to export. VRBMC sometimes takes title to the
goods and sometimes works on a commission basis.
·
Vester Royal Business Magnet Company: This international
entrepreneur is a
free agent. She has no
specific client base, and he doesn't specialize in any one industry or line of products.
Instead she purchases goods directly from a domestic or foreign manufacturer
and then packs, ships and resells the goods on her own. This means, of course,
that she assumes all the risks as well as all the profits if she accepts to buy
and resell. But where he refused to buy and resell both companies (buyer and
seller) will pay her commission and bears expenditures incurred.
HUMAN DEVELOPMENT PROGRAMMES AND TRAINING OPPORTUNITIES IN NIGERIA.
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Our human development training programmes are designed to assist our client set-up their respective business on a sound footing. The
training cuts across different segment of the economy to include ICT, Industrial,
Agriculture, Export, Import, Food, Beverage,
Manufacturing,Plant/Machine Fabrication, Mining , Quarry,
Telecommunication, Tourism
and Transportation are facilitated by our seasoned professionals in
their respective fields.
Feel free to call for your formula:08036721009,08076075205, 07088788710 or e-mail
bizideas@vestersms.com on payment of the formula fee of Ten thousand five hundred naira
(N10,500). This amount is payable into our Company’s account thus;
Account Name:
VESTER ROYAL BUSINESS MAGNET COMPANY
Account No:
1013355170
ECOBANK (NIG) LTD
Account Name: VESTER ROYAL BUSINESS MAGNET COMPANY
Account No:4392017160.
Banker: Ecobank Ltd
After Payment call or send text message stating, International business, bank paid, teller no and amount paid, to: 08036721009 , 08076075205 or 07088788710, or send us e-mail to bizideas@vestersms.com for details.
For questions call 08036721009, 08076075205, 07088788710 if in Nigeria but if outside Nigeria call +2348036721009, +2348076075205, +2347088788710 or e-mail: bizidea@vestersms.com. Those outside Nigeria should e-mail to: international@vestersms.com.
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