Join Doug Ladd for an in-depth discussion in this video US Government departments and divisions, part of Marketing Foundations: International Marketing.
- A wise politician once joked, the nine most feared words in the English language are, "I'm with the government, and I'm here to help." If you run a business, you've likely come across one or two hundred examples of where business life is made more complicated due to regulations, laws and taxes. But not all is gloom and doom. When it comes to expanding internationally, there's some very valuable resources available from government departments and divisions. The U.S. Department of Commerce has several responsibilities, one of which is to promote free trade agreements through exporting of U.S. goods and services to other countries.
Whether your company is based in the U.S. or elsewhere, the resources available through some of their websites will be valuable to you. We'll start our exploration at the webpage of the International Trade Administration, which is part of the Department of Commerce at trade.gov. Let's drill down to look for some useful information here. In the About ITA tab, you'll find some great resources at Industry and Analysis. Here you will find a wide range of government reports, resources, tool and departments.
As an example, a peek into the Office of Consumer Goods exposes you to a number of industry reports. Want to see how much wine U.S. wineries exported in 2010? It was 3.87 million hectoliters, whatever those are. Sounds like a lot. In the Trade Topics tab, you can learn about issues directly affecting your particular industry. Do you need to know if your product will face a tariff when you export to another country? Roll down to the Tariffs section and you can look up any tariffs that may apply through the tools available here.
Under Services, you can link to a wide range of topics. Thinking about selling your medical device in Germany? You can click on Market Research, select the Market Research Library and filter down to your specific area of interest. You will need to register on this site, but doing so is simple. You may be able to save thousands of dollars and countless hours by using the reports available here rather than doing your own primary research. Under the Data & Analysis tab, you'll find other reports and data that may help.
Thinking of creating a branch of your business to transport used cars from the U.S. to foreign markets? You may like to know the U.S. exported 756,000 used cars to other countries in 2013. Just in case this course hasn't given you all the details you need for your specific business needs, you can look under Publications to find Basic Guide to Exporting for an e-book entitled, "Exporting 101," that will give you more details on the specifics of how to export your product.
Many of the links in the International Trade Association site will take you to the export.gov site. Some will take you to BUYUSA.gov. Both of these are part of the Commercial Services division of the ITA. The Commercial Services division has offices in more than 100 cities around the U.S. and 75 countries around the globe. They provide not only the free resources we've reviewed here, but they also have reasonably priced programs to help companies assess and gain access to other markets.
You can find more information about the offices near you at this websites. These are great resources to help you do the analysis and planning and execution of your international expansion. Now if only we could get the IRS to be as helpful.
The course also investigates options for global expansion, such as exporting, licensing, joint ventures, and direct investment, and details how to put together a successful marketing mix using distribution, promotional methods, and translation. Plus, learn where to turn for more information about your specific target markets.
- The rise of the global consumer
- Learning about customers in global markets
- Accessing foreign markets
- Adapting products
- Balancing risks and rewards