You will see various companies are well established in other countries but it is not success mantra to them for other countries where they want to exceed their growth.
We have so many companies that failed as they followed the same strategies, they are implementing in different countries. Just look at the big autosector giant Ford, General motor.
Another example is Harley Davidson. They are well established in American market,but they failed in India and after some years they exit from India.
What were the reasons for failing. Here we will ensure you to know what are the Big lessons every entrepreneur has to learn and apply in their business to get success.
When you launch your product , understand the people need what they want from your product. Customer plays an important role whether your product have capabilities to get success or not.
If your company is well established in another country but you don’t care about the people of the current country then you are not be able to established well in that country. Think what you are doing is right for that country or not.
This philosophy will not work if you are not connected to the people. You have to understand the people pulse of every country if you want success.
Different countries have different unique purchasing power capacity of the certain products. It is not that what other people are buying that product may vary.
So if any product launches, understand the price range,then on the basis of that serve it to the people. Understand the costing procedure on the basis of different people buying capacity and use that to sell that product.
You can’t sell your old version of technology oriented product on the basis of different people of different countries. If you want to get success globally then deliver the best product to all countries in respective manner.
If any company use this type of different behavior for different countries then it’s sure that after sometime they will get failure in respective country.
So always think every country on the same basis level. Never underestimate any country and deliver the best product you got to the people.
You can’t rely on the fact that you are popular in the respective industry and don’t take any unique marketing strategy.
If you show this type of egoistic approach,then after sometime you will not get the acceptance of the people and someone will take your market share.
This is the most part of any company which hold partnership with another company of respective country. Try not to break that partnership because partnership with company based upon trust and it is like marriage relationship between two people.
When Ford enter in market of India they associate themselves with Mahindra company. But they think they are the best in America then they break association after sometime.
They went in loss and after sometime they again associate themselves with Mahindra. But once trust broken can’t give the best relationship and confidence to achieve success together.
So at last to get success in different countries you have to analyse all the issues totally differently,and utilize the best information to get more growth.