(a) Feasibility study:

• Review performance in the domestic market
• Appraise your companies’ capabilities and resources
• Evaluate the demographics and social and economic environments in the target markets
• Make a decision on target markets

(b) Plan to enter the foreign market:

• Ensure correct market research of the market/industry
• Formulate strategy to enter the target market
• Ensure compliance with the licensing laws, standards and certification obligations of the new market
• Become aware of tariffs, taxes, quotas, duties and other non-tariff barriers
• (c) Implementation:

• Establish what form of distribution is to be used
• Determine the international marketing plan
• Identify sales reps or other sales methods
• Agree on payment terms and currency for transactions
• Ensure paperwork is up to date
• Ensure you have a transit insurance policy and one for credit insurance if required

For the above process it is assumed that a price for your goods has been settled on

Note also that export licenses are required for a small percentage of all goods traded, usually involving very sophisticated technology and products that can be used for military purposes.