In international business, involves having a foreign purchaser in the local market or using an export management firm.
Question
In international business, involves having a foreign purchaser in the local market or using an export management firm.
Solution
The question seems incomplete. However, based on the given information, it seems like it's referring to "Exporting".
Step 1: The company decides to expand its business to international markets.
Step 2: The company identifies a foreign purchaser in the local market. This could be a distributor or a retailer who is interested in selling the company's products.
Step 3: Alternatively, the company could use an export management firm. These firms act as the export department for the company, handling all aspects of the export process.
Step 4: The company or the export management firm then ships the products to the foreign purchaser, who sells them in the local market.
Step 5: The company earns revenue from the sales made by the foreign purchaser.
This process is known as exporting in international business.
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