Business English(Lecture 3).pdf

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(1)

Steps to take before making

sales contract with a buyer:

(1) market research

(2) search for buyers

(3) business proposal

(2)

 Items of Research

Items related with market • Distribution structure

• Effective approach to local market • Potential market

Items related with products

• Marketability, profitability, Competitiveness • Regulations on export/ import

(3)

• Use the Internet • Visit websites

On-line

• Use export-supporting organizations • Field Survey

Off-line

• Entrust professionals with survey

Agency

(4)

- Korea Small and Medium Business Administration (중소기업진흥공단) - KOTRA (대한무역투자진흥공사)

- Korea International Trade Association (한국무역협회)

(5)

Use domestic organizations

related with trade

■ Visit a target country ■ Use exhibition

(6)

Organizations you can use to seek for business connections

(in case of Korea)

The center for export support,

Korea Small and Medium Business Administration

Korea International Trade Association  KOTRA

Korea Chamber of Commerce and Industry Foreign Embassies in Korea

Korea Foreign Company Association

(韓國外國企業協會)

(7)

Other ways to seek for business connections

Overseas advertising

Use newspapers or magazines that trade- related organizations publish so that

domestic manufacturers or suppliers can advertise their products or items.

You pay for the space in such mediums to put your ads.

(8)

Using sites on the Internet that provide

information on manufacturers, suppliers,

or exporters

Put your ads in the sites

Asian Sources

,

www.asiansources.com

Global Sources

, based in Hongkong

www.globalsources.com.hk

(9)

From: To: Date: Subject: Dear Sir/Madam, (double-spaced)

(10)

(body)

Best regards,

Jo, Heungcheol, GSIS

Pusan National University

33, Geumsam-Ro, 5 Gil, Geumjeong-Gu

Busan, South Korea

(11)

(1) Introductory part

Tell the receiver briefly about your company if it is your first email.

(12)

(2) Main part

Write what you want, or what you are planning, followed by making a request for the

information on buyers.

Tell the receiver the bank to which he/ she can refer for your credit. (信用 照會處 明示)

(13)

(3) Closing part

Close by saying

“looking forward to receiving a

reply soon”with words of thanks

There should be double space

(14)

(double-spaced)

Best regards,

Jo, Heungcheol, GSIS

Pusan National University

33, Geumsam-Ro, 5 Gil, Geumjeong-Gu

Busan, South Korea

(15)

From: Jo, Heungcheol

To: The Chamber of Commerce of Bangkok

Date: March 27, 2017

Subject: Seeking for Business Connections Dear Sir/Madam,

We have been manufacturing and exporting various kinds of vacuum cleaners for more

than 10 years. Now we are planning to export

(16)

vacuum cleaners to Thailand.

However, unfortunately, we do not have any good connections in your country. We would appreciate it if you could

introduce to us some reliable importers who are interested in the business of

vacuum cleaners.

(17)

For any information as to our financial standing and reputation, please refer to Hana Bank, Jangjeon Branch, in Busan, Korea.

Thank you very much for your attention, and we look forward to receiving

your reply soon.

(18)

Best regards,

Jo, Heungcheol, overseas sales team

Hanguk Electronics Corp.

33, Geumsam-Ro, 5 Gil, Geumjeong-Gu

Busan, South Korea

(19)

A circular letter ⇒

A letter of business propos

al

Basic format of a circular letter is the

same as that of a letter making a request for a buyer.

(20)

(1) Introductory part

source from which you obtained

information on the other party

purpose of writing a letter

(21)

(2) Main part

Introduction of your company

- history

- production items/ scale

- existing business connections - status in the industry

► Make it appeal to the other party!

Avoid making your company look

bigger than it really is!

(22)

State more clearly your desire to

establish a business relation with the other party.

Tell the receiver the bank to

which he/ she can refer for your credit. (信用 照會處 明示)

(23)

(3) Closing part

Close by saying “looking forward to receiving a reply soon” with words of thanks

(24)

From: Jo, Heungcheol

To: Sombun

Date: March 27, 2017

Subject: Business proposal Dear Sombun,

Having heard from the Chamber of Commerce of Bangkok that you are interested in the

business of vacuum cleaners, we are writing

(25)

to you with a keen desire to do business with you.

We have been established in Korea for over 10 years as vacuum cleaner maker and exporter. Our products are highly accepted by our business connections in Japan, Germany, Australia, etc.

In order to diversify our existing market,

(26)

we are interested in supplying our

products to you on favorable terms. Upon receipt of your request for our catalogues and price list, we can send our catalogues with competitive prices to you.

As to our credit standing, we refer you to Hana Bank, Geumjeong Branch, in Busan, Korea

(27)

We are looking forward to your favorable reply with thanks.

Best regards,

Jo, Heungcheol, overseas sales team Hanguk Electronics Corp.

33, Geumsam-Ro, 5 Gil, Geumjeong-Gu Busan, South Korea

Tel.: +82-10-5686-9302, e-mail: _______

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