Increase Revenues & Profits – That is the major objective of any company. Many companies decide to achieve this growth by taking their business internationally and entering other countries with large or fast growing markets. There are many benefits to doing this, but we have seen most technology companies attempt this without proper planning and have wasted significant investments without any results to show for it. The typical mistakes that companies make in doing international business include:
· Not making a sufficient commitment in time, resources and investments.
· Not sufficiently validating a market opportunity before investing in it.
· Not creating a global market development strategy.
· Not selecting the right business partners.
· Not training and supporting the business partners to be successful.
Lûcrum Marketing is committed to making sure that our clients avoid these mistakes and achieve market success.
With this in mind, we have created a five step process that allows your company to make incremental investments as we help your company enter global markets by finding the right business partner and enabling that partnership to be successful.
Lûcrum Marketing’s Global Market Development Services follow the five steps listed below:
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Phases
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Phase Objective
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Phase 1 – Validate Market Opportunity
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The goal of Phase 1 is to evaluate and validate that there is a good market opportunity for your solution in the US market.
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Phase 2 – Create Market Strategy
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The goal of Phase 2 is to create a market strategy for commercializing your solution in the US market.
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Phase 3 – Business Development (Partnering)
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The goal of Phase 3 is to market and sell the reseller partnering opportunity to qualified resellers and sign reseller agreements.
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Phase 4 – Partner Enablement
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The goal of Phase 4 is to ensure that the new reseller partners are properly trained and able to effectively market and sell your solution to the target market.
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Phase 5 – Market Growth
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Now that your company has reseller relationship with a well qualified business partner and the partner has been well trained to market and sell your solution, your company will continue to manage, support and grow this relationship to achieve sales revenue growth in the US Market.
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