Nell’attuale congiuntura economica, l’internazionalizzazione delle aziende è diventata an essential strategic choice to expand its presence and gain a competitive advantage.
Il dato sull’export è infatti noto: secondo il report SACE, le esportazioni di beni nel 2023 cresceranno del 6,8%, superando i 660 miliardi di euro. Numeri che dimostrano come l’apertura a nuovi orizzonti offra una miriade di opportunità di business per la crescita sui mercati esteri delle imprese della Penisola.
But to embark on this path effectively, companies must carefully evaluate the internationalization model that best suits their needs and objectives. In this article, We will explore some of the internationalization models for companies and how they can be a sure path to success in foreign markets.
What models of internationalization have been most successful? The most common successful strategies, and those recommended by Octagona to Italian companies thanks to over twenty years of industry experience, are four: direct or indirect export, strategic partnerships, technology transfer, and foreign direct investment (FDI).
The first is the most immediate, where a specific international market is understood as development or continuation of the domestic one. The goods to be exported will then be, in whole or in part, the same as those intended for sale in the market of one's own country. International sales transactions may take place directly (The company directly handles sales operations) or indirectly (or through intermediaries such as agents or distributors).
It is therefore a model that enables companies to Testing the waters of foreign markets without excessive investmentExports can occur through distributors, sales agents, or directly to foreign customers. In other words, it is a first step aimed at understanding the demand of consumers in a specific market and their needs.
Collaborate with local partners represents an effective internationalization strategy, as it allows for the leveraging of the knowledge of local professionals in the target market, existing distribution networks, and their cultural know-how. It is therefore a model that can ridurre i rischi e accelerare l’ingresso in un Paese, in vista di una presenza futura più stabile, poiché si può contare sulla competenza e l’esperienza dei partner locali.
Technology transfer consists of a process articulated in various phases, through which a company makes its own knowledge, technologies, skills, or production processes accessible to other entities, companies, or users, in such a way that the latter can further develop these elements. To make products or services tailored to the target market.
So it's a form of collaboration that excludes the establishment of a separate legal entity: relocation actions in fact allow initial access to the target country without significant investment and initial brand development, and can serve as a basis for a subsequent phase of direct investment in the target country.
Read the case of Technology transfer from Italy to India
FDI involves significant investment to establish a physical presence in a foreign market, such as branches, production sites or representative offices. As such, these are usually structured and complex operations, particularly suited for companies that have already achieved significant sales and market positioning objectives, perhaps through previous strategic partnerships or continuous exports. Alternatively, for those companies that have consolidated a certain financial solidity and want to pursue more aggressive, long-term global growth.
Do you want to find out how to apply these internationalization models? Then learn more about the success stories in international markets Of our clients.
Octagona Supported the international growth of numerous Italian companies by adapting strategies presented previously tailored to the specific characteristics and needs of our clients. Although these internationalization models are very different from each other, behind the specific choice many common motivations lurk.
First, expanding abroad leads to a greater risk diversification. Numerous events can undermine the security of the domestic market. Among these, and especially at this historical moment, we can witness an increase in the costs of raw materials and supplies or high inflationary rates that reduce consumer demand. By focusing attention on international markets, it is possible to identify those areas of the world that cyclically suffer less impact from the consequences of such phenomena.
In addition to this, internationalizing one's business allows for a significant increase in the number of potential customers, leading to growth in turnover and profits. Not to mention gaining a deeper and more complete understanding of the global economy and its effects on your industry.
If you are truly interested in discovering why you should sell abroad? Then Read the article dedicated to all the other advantages of business internationalization.
Given the various possible internationalization models, it is necessary to remember that at the basis of any strategy there must be a careful study for the choice of the largest and potentially most profitable market.
This study must determine both the competitor analysis and the investigation into the type and quantity of resources to be employed, to ensure an investment consistent with one's business and that at the same time can be successfully applied beyond national borders. Only as a result of this analysis It will be possible to determine how to export and distribute one's products, identifying the most suitable channels.
These and other considerations are particularly delicate and conditioned by multiple factors, and it is advisable to rely on internationalization experts to draft a business model that is successful in other countries.
If you also wish to evaluate the possibility of internationalizing your company, then contact usWe are always available to all ambitious realities that want to seize every growth opportunity in an increasingly global market.
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