05/19/2021

Five Essentials to Consider Before Expanding to Foreign Markets

Now may be the time to enter the international market

At a time when organizations are revamping their strategies and rethinking ways to deliver value to their customers, the opportunity to expand to a broader international market is worth considering. After all, virtual online technologies are increasingly removing national barriers. In search of new revenue streams, associations see international market diversification as a wise strategy.

But how do organizations know their products and services will appeal to audiences in other parts of the world? There are five key pieces to the global appeals test to determine whether any product or service will be welcomed by foreign audiences. The 5 As include applicability, accessibility, acceptability, affordability and adaptability. If one of these is missing, organizations need to rethink their strategy before launching to international markets.

Applicable. The first test is to check whether the product, service, or program is applicable to audiences in other countries. Does the content apply? Is it relevant? Do laws permit it? Are the customs in the country open to it? For example, an app that involves betting won’t be permitted where gambling is illegal. Or guidance specific to Title VII of the Civil Rights Act won’t be applicable outside the United States. The applicability test considers laws, customs and traditions in other countries when deciding what products and services to select and where to expand.

Please select this link to read the complete article from ASAE's Center for Association Leadership.