PARTNERING WITH FOREIGN AGENTS AND DISTRIBUTORS Divyesh Vadgama (0776273) Medhavi Wadhwa (0787319) Heena Verma (0793804) Harry James (0789649) Saswath Sasidharan Karakkad Parambil (0788311) St. Clair College of Arts & Technology Zekelman School of Business & Information Technology International Market Entry Strategy IBM 210-22W-003 Professor Daniel Friesen February 12th,2021 1 | Page
TABLE OF CONTENTS: Selection .03 Evaluation 04 Advantages and Disadvantages. 05-06 References. 07 2 | Page
SELECTION The product we want to sell in market is Toothpaste. The Country in which we are planning to sell our product to is Philippines. To sell or product in foreign market we need to be aware of the methods which can help us to sell products in foreign market as well as reach all the users. These methods are also knowing as market entry strategies. There are three methods of exporting any product you make in your company. This Methods are as follow: 1. Agents 2. Distributors 3. Trading houses The one we are moving forward with is Distributors. A distributor is a separate business that purchases other companies` products, stocks them (inventory) and resells them to their customers. A distributor may carry a wide variety of products to resell to customers. They may carry noncompeting or competing lines; this varies with the industry. Now as we are not sure every time that exporting will go smooth but as a backup, we always have to keep third party in option and as a third party we will be approaching FedEx. Now, all exports made by one or more exporters on behalf of another one or more exporters are called third-party exports. Here, the legal document on the delivery note must include the addresses of both the manufacturer-exporter and the third-party exporter. For third-party exports, foreign orders are received from the third-party exporter. Therefore, the transfer to a foreign country is received because the third-party exporter has received the export order. Therefore, orders from foreign buyers foreign remittance certificates (FIRC) are done on behalf of the third party exporter, not on behalf of the manufacturer's exporter. Therefore, from the Reserve Bank's point of view, deposit restrictions are monitored by third-party exporters. 3 | Page