Marketing products and services overseas obviously goes much deeper than simply shipping out a product or translating marketing materials. But how deep? Depending on sales goals and the opportunities in a given market it is sometimes worthwhile to establish a real and meaningful presence in the target market(s).
On April 26th, in an article titled “GE Remodels Businesses in India,” the Wall Street Journal reported on General Electric’s increased success that came as a result of revamping its operations in India. The article reports: “The company remodeled its business in India by focusing not only on sales and marketing but also on making it a center for designing low-cost products for India, other emerging markets and, eventually, the advanced economies.”
As the article reports, Chairman Jeffrey Immelt "came to the conclusion that part of the problem was that we just weren't very local."
GE’s healthcare unit enjoyed a 20 percent increase in sales over the last year to $300 million, anticipates reaching a goal of $400 million this year and is hopeful about the possibility of reaching $1 billion within five years.