Definition
Foreign market
A foreign market is any market outside a company’s home country where it may sell goods or services.
Foreign markets are any markets outside of a company’s own country.
Selling in foreign markets involves dealing with different languages, cultures, laws, rules, regulations and requirements. Companies looking to enter a new market need to carefully research the potential opportunity and create a market entry strategy.
Exporting goods is often the first step to entering a foreign market (which can lead to setting up a business presence there).
Hiring a foreign sales agent—a resident of the target foreign market who understands the local context—can be useful when expanding into a new country.