Passed on 15 May, 2025

1. Key concepts

In this lesson, you’ll be introduced to key concepts and terms used for expanding internationally.

Get familiar

Take the time to learn about the key terms and concepts. You may recognise some of these terms from other modules and others might be entirely new.

Expanding internationally

Take the time to learn about the key terms and concepts relevant to expanding a business internationally.

Internationalisation

Internationalisation is the act of designing products, services, and processes in ways that are suitable for markets in multiple countries.

Global marketplace

A global marketplace allows businesses to access and serve customers across the globe through digital platforms and websites.

Target market

A target market is a group of consumers a company aims to sell to. While it can be local, this module focuses on international markets.For example, a business in Italy selling eco-friendly water bottles identifies demand among environmentally conscious customers in Germany.

For example, a business in Italy selling eco-friendly water bottles identifies demand among environmentally conscious customers in Germany.

For example, a business in Italy selling eco-friendly water bottles identifies demand among environmentally conscious customers in Germany.

Target audience

A target audience is another way of saying target customers or potential new customers. In the context of internationalisation, target audience is a clearly defined segment of consumers in foreign markets who are most likely to engage with, and benefit from, a business's products or services.

Translate

Translation is the process of converting written or spoken content from one language to another while preserving the original meaning and intent.

Localise

Localisation is the process of adapting a product, service, or content not only linguistically, but also culturally and functionally, to meet the specific needs, preferences, and expectations of a target audience in a particular geographic or cultural market.For example, a word-for-word website translation would sound awkward to native speakers. Localised content uses local expressions, idioms, and cultural nuances, so it reads as though it was originally written in the target language.

For example, a word-for-word website translation would sound awkward to native speakers. Localised content uses local expressions, idioms, and cultural nuances, so it reads as though it was originally written in the target language.

For example, a word-for-word website translation would sound awkward to native speakers. Localised content uses local expressions, idioms, and cultural nuances, so it reads as though it was originally written in the target language.

Lesson complete

Great job!You’ve now covered the foundational concepts of expanding internationally, setting you up for success as you move through the rest of the module.Next up, let’s find out more about how to expand a business internationally.

You’ve now covered the foundational concepts of expanding internationally, setting you up for success as you move through the rest of the module.Next up, let’s find out more about how to expand a business internationally.

Next up, let’s find out more about how to expand a business internationally.

Next up, let’s find out more about how to expand a business internationally.