From the course: International Business Foundations

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Know your competitive overseas threats

Know your competitive overseas threats

From the course: International Business Foundations

Know your competitive overseas threats

- Think about it, hundreds of millions, if not billions of new consumers are spending more. And this is creating incredible opportunities for businesses of all shapes and sizes, it's tempting to rush in, but you've got to be careful because your competitors might be doing the same thing. And that includes local competitors you may never have heard of. There was a software company from Germany who started selling into Australia, but their sales didn't take off as they expected. They're considered expensive, but more importantly, their customer support was only available during European business hours. And that made it difficult for Australian customers to get help. The brand suffered and local and regional competitors pounced by focusing on their superior and local customer service. The German company thought that their strong reputation back home would be enough to win overseas customers, but they underestimated the level…

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