The four Ps of marketing (product, price, place, and promotion) are well known.
The following five Ps for US market entry strategy are less well known, but equally important.
1. Patience: Have a long term plan. Invest time in building relationships that lead to sales.
2. Persistence: Follow up to the point of being annoying, and then follow up some more. Do it Politely and don’t lose your Patience.
3. Preparation: If your product takes off you will need to be able to increase production quickly, but if sales are slower than expected then you will need to keep your US operations afloat with funds from other sources. Be prepared!
4. Protection: Get legal advice early on, and protect your intellectual property.
5. Precision: Clarify everything that is said because your customers will be operating from a different cultural (and linguistic) baseline. For example, “sure” may not mean yes, it may just mean, “I hear you, but I don’t agree with you.”
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