We are living in a world where in order to grow we have to move out of our domestic horizons and need to explore opportunities in other markets. When we talk about moving out of the domestic horizons it can also mean leaving your homeland and look out of opportunities in foreign land. This is what many big companies have been doing. They tend to consolidate their position first in the domestic market and then once that is done they try to venture out. It is nevertheless important to understand the foreign market well before you actually go out there and set up your business. A lot needs to be understood and done before you actually establish your business. You may need help of various types of intermediaries at various junctions and have to simultaneously get rid of issues that crops up at any given point in time.
This is exactly what CAT as a company is doing. They have spend good number of years consolidating their position in the domestic environment where they have managed to beat all types of competition and have already went to foreign shores marketing their products quite aggressively. Off late it has been observed that CAT is ramping into countries where it did not have its offices or where its operation was quite limited. They are moving in there with new heavy equipment that did quite successfully in US and they have high hopes that those machines will have a big market in other countries as well.
Some of the new heavy equipments that they are aggressively marketing in foreign shores are the 424B backhoe loader, 336 F series excavators and especially the 336F L excavator which has been introduced in the year 2017. They are also marketing rollers and other big machines that are extensively used for works related to road construction and building townhouses. CAT is trying to collaborate with major construction companies all around the world and only when a deal is signed where the construction company promises to procure heavy equipments from them, the shipment of the consignment begins. Now the marketing team tries to rope in many more construction companies which have large scale operation all around the zone. This is how they consolidate their position first and then slowly and steadily they try to get permission of the government to set up their business in that country.
Cat has come up with its new fleet of heavy equipment and they want it to be used by their foreign partners. This is the reason why they have also instructed their dealers to promote the new set of machines. This however does mean that they will do away with the older ones. It is just that they want to promote the new ones aggressively. Countries in the Middle East and few in Asia and in South America have been their target zones. They see huge potential in these countries and hence want to expand their business to the tilt.
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