OPTIMIZING GLOBAL TRADE
A pro forma invoice is a quotation formatted like an invoice that the seller issues to an international buyer when they have inquired about a product. Here is a list of thirteen items that should be included on your pro forma: Invoice Clearly Marked as “Pro Forma Invoice” Buyer’s Reference Number and Inquiry Date Names …
13 Things You Need to Include on a Pro Forma Invoice Read More »
An important component of successfully selling your product or service in a foreign market is to set the correct price for that market’s consumer. This process involves looking at elements specific to exporting that you do not take into account when pricing your product for the domestic market. This article addresses four key elements that …
Four Key Exporting Elements That Can Affect Your Product’s Price Read More »
A crucial component to successfully selling your product or service overseas is to properly price your product for the foreign market. This can be a challenging and tricky task that requires weighing your company’s objectives with your costs, market demand and competition in the foreign market. The following five questions will help you to better …
Five Things You Need to Consider to Properly Price Your Product for a Foreign Market Read More »
As in any sales agreement, having a common understanding of the terms of sale for both the seller and buyer are crucial because they avoid confusion and can prevent a lost sale. Many international business transaction terms may appear to sound the same as domestic terms, however they often have very different meanings. Therefore, to …
Terms of Sale: Understanding International Terms of Sale (“Incoterms”) Read More »
To successfully continue to conduct business overseas, U.S. companies need to be aware of cultural differences in each market and to follow business practices that provide for a trusted and established working relationship. This not only applies to the initial transaction, but continues through to after sales service where follow-up is key to establishing repeat …
A great deal of initial export transactions are generated from inquires placed by international buyers overseas. These product or service inquiries lead to a request for a quotation. When giving a quotation, a pro forma invoice (a quotation formatted like an invoice) is prepared by the seller. Pro forma invoices are the preferred method of …
As with domestic sales, it is important to price your product properly when selling a product or service overseas. Pricing your product or service for the international market can be challenging and directly affects your company’s revenues. Your market research is a vital component when determining pricing and it is essential that your research include …
Pricing Your Product for the International Market Read More »
A key aspect to successfully exporting your product overseas is to have a good understanding of your target market so that you can select the right product from your product line, prepare product packaging and/or modify the product for exporting. To do this you must research your target market by conducting market research and speaking …
Identifying and Preparing your Product for Export Read More »
Once you have conducted your market research and made the decision to export, you will need to devise an international sales and marketing strategy for your products. To do this, you will first need to determine which markets have the most potential for selling your products. Then, you will need to determine how you will …