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Market Leaders Share Experiences During Inaugural International Trade Seminar At PRI 2016
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Attendees of the 2016 Performance Racing Industry (PRI) Trade Show in pursuit of overseas business heard from a panel of top international buyers and manufacturers selling internationally during the inaugural International Motorsports Trade Seminar on Friday.
A capacity crowd of racing professionals vied to hear Wilfried Eibach of Eibach Springs, Brian Patrias of Motovicity Distribution, Rob Herrod of Ford Performance Parts Australia, and Darrick Dong of Performance Friction Brakes (PFB) speak about purchasing international products for the US market, selling US products internationally, buying US products for the international market, and selling foreign products into the US.
For his part, Patrias discussed pricing for products introduced for sale in the US. "When you bring it into the United States, everyone is going to take a cut," he said. "When you price a product, you need to have a whole package. That’s what's going to allow you to get into multiple distributors."
Dong, director of motorsports at PFB, addressed US manufacturers seeking to sell overseas, as well as international distributors trying to sell products in the US, during his segment.
"US manufacturers, the biggest thing that you have to learn is the culture of the international market where you're trying to sell," said Dong. "For distributors, know who creates the demand and who the customer is. You capture markets not because of distribution, but because of information you acquire from the markets you are approaching."
During his presentation, Herrod, owner of Ford Performance Parts Australia, talked about the importance of a positive relationship for a successful international partnership.
"My biggest thing is support from the company I'm dealing with," he said. "If I'm in Australia selling your product, I want to be you in Australia, and I need you to be me in your country."
Legendary Eibach, who this year is celebrating his 65th in business, shared some of the knowledge he has acquired over an illustrious career in motorsports.
"If you have a superb product and a personal commitment, which sometimes is just as important as the product, the market is there," said Eibach. "But you need to have a complete line of products in the market.
"Succeeding in the US was tough, and took a lot of patience and courage," he added, "and it took us 30 years to get to the point where we are today. But the biggest risk in life is taking no risk at all."
A capacity crowd of racing professionals vied to hear Wilfried Eibach of Eibach Springs, Brian Patrias of Motovicity Distribution, Rob Herrod of Ford Performance Parts Australia, and Darrick Dong of Performance Friction Brakes (PFB) speak about purchasing international products for the US market, selling US products internationally, buying US products for the international market, and selling foreign products into the US.
For his part, Patrias discussed pricing for products introduced for sale in the US. "When you bring it into the United States, everyone is going to take a cut," he said. "When you price a product, you need to have a whole package. That’s what's going to allow you to get into multiple distributors."
Dong, director of motorsports at PFB, addressed US manufacturers seeking to sell overseas, as well as international distributors trying to sell products in the US, during his segment.
"US manufacturers, the biggest thing that you have to learn is the culture of the international market where you're trying to sell," said Dong. "For distributors, know who creates the demand and who the customer is. You capture markets not because of distribution, but because of information you acquire from the markets you are approaching."
During his presentation, Herrod, owner of Ford Performance Parts Australia, talked about the importance of a positive relationship for a successful international partnership.
"My biggest thing is support from the company I'm dealing with," he said. "If I'm in Australia selling your product, I want to be you in Australia, and I need you to be me in your country."
Legendary Eibach, who this year is celebrating his 65th in business, shared some of the knowledge he has acquired over an illustrious career in motorsports.
"If you have a superb product and a personal commitment, which sometimes is just as important as the product, the market is there," said Eibach. "But you need to have a complete line of products in the market.
"Succeeding in the US was tough, and took a lot of patience and courage," he added, "and it took us 30 years to get to the point where we are today. But the biggest risk in life is taking no risk at all."
