Before entering the foreign market, we need to address several strategic questions, including the following:
• What shall we produce, sell, and distribute to which customer segment?
• How do we create customer value to attract foreign customers?
• What things do we have to do differently in the foreign market? In other words, how do we adjust to different market conditions in the foreign country?
• What kinds of business opportunities can we exploit and how can we grow business in the future? How fast will business grow in the untested foreign market?
• What stands in the way of business success in the foreign market? Which potential business barriers (e.g., law, regulations, ...