New Product Development and Global Distribution
In today’s fast paced world, companies must effectively develop and distribute new or updated products to stay competitive. However, navigating the complex global distribution landscape can be daunting. There are many things to consider, including language barriers, cultural differences, legal requirements, and logistics.
What is global distribution?
When you hear the word global distribution, many people think of it as getting your product to your customer anywhere in the world. You wouldn’t be wrong. However there are many factors that come into play and without taking each one into consideration, your product will most likely fail far before it hits the shelves.
For companies looking to develop and launch new electronic products, this process can be particularly challenging. Pivot International has over 50 years of experience bringing electronic products to market and we’ve helped hundreds of clients navigate their way through global distribution. In this blog, we’ve compiled a list of factors to consider before developing your product to ensure success with your global distribution.
Legal and Regulatory Hurdles to Overcome
One of the biggest challenges of global distribution is navigating the legal and regulatory landscape. Different countries have different laws and regulations regulating what comes in and out of their country. This can include everything from customs and regulations to product safety requirements. To successfully distribute your product globally, it’s essential to have a thorough understanding of these regulations and ensure your product complies.
Logistics and Distribution of Your Product
Another global distribution challenge is the logistics of getting a product from the manufacturer to the end user. This can involve coordinating shipments across multiple countries and dealing with the various customs and import/export requirements that exist in different regions. It can also involve dealing with language barriers and cultural differences, making it difficult to communicate effectively with suppliers and customers worldwide.
Product Labels and Packaging
Before you start designing the outside look and feel of your product and its packaging, you must know your audience. Every country is unique to its own culture. Societal norms must be researched, implemented, and respected throughout the design of your product to ensure its acceptance. For example, in Western culture, the colour purple symbolises spirituality and wealth, while in Indian culture, it symbolises sorrow and comfort.
Not only this, but different countries and regions may have their own unique requirements when it comes to things like product labelling, packaging, and safety standards. Depending on the type of product you’re developing, there may be certain specifications that must be displayed on the label. This is especially true for medical devices. Failure to comply with these regulations can cost your company substantial fines and penalties.
Overcoming Global Distribution Obstacles Through an Experienced Partner
Despite these challenges, global distribution is an essential component of modern business. To compete in a global market, companies need to be able to reach customers around the world. This requires a deep understanding of the complexities of global distribution and the ability to navigate the legal and regulatory landscape in different countries. Partnering with an experienced company to help you navigate these hurdles will lend itself to a much smoother and faster time to market.
Access to Global Supply Chains
A partner with experience in global distribution can help you navigate the complex legal and regulatory landscape, and provide logistical support for getting your product to market.
Pivot UK has three global supply chain teams throughout Europe, Asia, and North America. This allows our customers access to multiple markets to ensure steady distribution, parts availability, and competitive costing.
Navigation Through Cultural Differences
In addition to providing logistical support, a partner with experience in global distribution can also help you navigate cultural differences and language barriers. This can be particularly important when marketing and promoting your product in different countries around the world. A partner with experience in global distribution can help you tailor your marketing message to different cultures and languages, ensuring that your product resonates with customers around the world.
Pivot UK provides a full spectrum product design experience that includes global marketing and project management teams, ready to take your product from concept through manufacturing and into global distribution.
New Product Development Opportunities
Another benefit of working with a partner who has global distribution experience is they can help you identify new market opportunities. By leveraging their expertise and network of contacts worldwide, a partner with experience in global distribution can help you identify markets that you may not have considered otherwise. This can be extremely valuable when developing and launching new products, as it can help ensure your product is well-positioned to succeed in different areas of the world.
At Pivot UK, our leadership teams are always learning. We are constantly seeking to learn about new types of technology and product trends in order to be ahead of the competition.
Finding Global Distribution Success Through a Rewarding Partnership
Now that we’ve outlined some key benefits to partnering with an experienced company, it’s important to note that not all companies are created equal. When choosing a partner for global distribution, it’s important to look for a company with experience in your particular industry and who has a successful track record in global distribution.
In closing, global distribution is an essential component of modern business, particularly when it comes to new product development. Having your product reach consumers from all over the world is not only rewarding but necessary. Navigating the complex legal, regulatory, and cultural landscapes of distributing globally can be overwhelming, but choosing the right partner can make all the difference. Companies can guarantee their products are well-positioned for success in different markets around the world.
Ultimately, the key to success in global distribution is choosing a partner with the right mix of expertise, experience, and resources to help you navigate this complex landscape and get your product to market quickly and efficiently. If you would like to know more about our global teams, and how we can extend your customer reach, contact our team today.