Exporting: A Guide to Market Planning, Marketing Strategy Itâ€™s important to establish a unique marketing strategy in order to thrive in the export business. Take note that a company does not really have a strategy if it carries out the same activities as its competitors, just merely a bit better. The key to export success is to have a good strategy that has strong point of different from that of your competitors. Develop a good marketing plan for your market. A marketing plan does not have to be a 100-page document with so many diagrams and tables. Keep it simple and concise. At a minimum, a marketing plan must have: marketing goals and objectives, market analysis, marketing strategy, action plan, and controls. In other terms, prior to entering a market, you should clearly understand what happened, what is going on, what you want to achieve, what you have to do to achieve it, how youâ€™ll be able to do so, and what might occur. Itâ€™s important to set up feasible market goals, distribute copies to everyone in your company and regularly regulate the progress towards the goal. Develop an export plan for your market. Thinking that selling and marketing are the same is a common notion within the business community. They are actually two different but related things. While selling is an important aspect of marketing, your export plan has different focuses and objectives on different tasks. Your export plan must include: analysis on export readiness, product development, market research, export strategy, assessment of trade barriers and regulations, pricing, financing, logistic
distribution, terms of payments and trade, after-sale strategy, implementation plan, and export sales forecast. Set up export prices for your market. There are certain rules to follow in setting up export prices; and no one can tell you what the â€œrightâ€? price is. Also, the price for the same product may significantly vary in different markets and most probably, you would have several prices for the same product based on these factors: quantity; marketing strategy; target customers; market demands and trends; product quality, uniqueness, and brand recognition; and so on. How a certain product is priced is very crucial in getting the attention of buyers, before he becomes familiar with the product quality, service, and delivery. You would want to aim to establish export price to be able to sell as many as possible with the highest profit margin as possible. Another essential part of export success is your freight forwarder. Make sure you do your homework and pick the most one reliable with lower air freight rates.
Published on Nov 21, 2013
Published on Nov 21, 2013
You would want to aim to establish export price to be able to sell as many as possible with the highest profit margin as possible. Another e...