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Study on the Strategy of Oversea Market Cultivation for Local Securities Products
Objectives: The main objective of this paper is to study the key strategies of oversea market development for local securities products with successful cases from the view points of competitive edge. Methods/Statistical Analysis: The method adapted to study the objective is case study about sales and marketing strategy for oversea market presentation. The case studies employed are about step by step approach with short and long term plan. In terms of reliable existing figures, Gartner Report data was referred to support related study and suggestion. Regards to successful sales strategy in entering oversea market, I adapted my long sales experience as a real example. Findings: When local securities companies launch its products at oversea market, it should pay the market entry cost which should be paid to enter new market. Once they are recognized as an international standard in the related category then this market penetration cost will be lowered significantly. In case of securities products, the barriers of entering oversea market are higher than other products respectively. In terms of successful business in other countries, sales strategy including localization can be important issue, as well. The result of study will be helpful for local securities products to launch in overseas market in terms of setting the strategy as well as giving some guidance to avoid try and errors. The unique of this study is adapting of my business experience on field. Improvements/Applications: This study can be applied to guidance about important success factor to upgrade market positioning in oversea market. This study could be improved by doing statistical survey to find out the cases of critical factors which have launched oversea market for the Korean security product s or solutions.
Market Entry Cost, Localization, Oversea Market Cultivation, Sales Strategy of Oversea Market, Securities Products.
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