It is always the dream of many companies to get recognition on the international front. In the context of globalization, the definition is the movement of a company worldwide towards economic, trade and financial integration (Day & Evans, 2015).In the case of small businesses, the prospect of going global is a significant step that may lead to the disruption of current business activities. It is thus imperative for these business entities to consider the pros and cons that can be as a result of going global. To take business like Data clear global is a complex process requiring various information such as the target market, competition, the current market trends and the foundation that will be required.
As per my opinion, I would advise the company to go for the global market while still having a foot in the domestic one. Since the local market has already been conquered by Data-clear regardless of Visidat and there is product satisfaction, the next step will be to go global. Furthermore, in going global, the company has already considered the potential for the new market with the estimation of about 1.26 billion US Dollars in the UK and Japan. This to some extent is a good foundation for the expansion into the global market.
Another factor that any company has to consider in venturing into the global front is the product readiness. Considering that Data-clear has been a main player in the domestic market, it is a good guess that the product is ready for the international market. A main driver in establishing market readiness is the product gap analysis that indicates the satisfaction of the local market and any gap that is available (Delaney, 2004). More to that, the company is at a good position on tax and financial readiness considering the gains from the local markets.
It is therefore wise for the company to consider going global while still having a foot in the local market. In maintaining a foot in the local market, Data-clear will be able to maintain its customers and prevent market poacher by visidat.Furthermore, going international will be boosted by the local image maintained by the company.
Day, D., & Evans, M. (2015, Mar 4). 10 Key Steps To Expanding Your Business Globally. Retrieved from Forbes : www.forbes.com/2015/03/04/10-Key-Steps-To-Expanding-Your-Business-Globally
Delaney, L. (2004, December 16). 20 factors to consider before going Global. Retrieved from Entrepreneur: www.entrepreneur.com/amphtml/75138