How to Adapt the Business Model for Foreign Markets?
Successful international expansion often requires adapting the business model to fit local conditions. This includes:
Product Adaptation: Modifying products to meet local tastes, preferences, and regulatory standards. Pricing Strategy: Adjusting pricing strategies to reflect local purchasing power and competitive landscape. Marketing and Promotion: Tailoring marketing messages and channels to resonate with local audiences. Distribution Channels: Establishing efficient distribution networks to ensure product availability and accessibility.