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Secrets
of International
Import Export Trade The export firm may find a foreign market for its existing product without the need on any kind of redesign. Very often, some minor modifications may be necessary to capture a share of the foreign market. Strategies for Export modifications may be due to legal requirements, say: product labeling regulations, weight and measures, language or dictated by the local culture or climate.
From the export point of view, a firm's The existing products should be exposed in the foreign market to determine their reactions by sending samples to prospective Export, import agents, merchant or distributors. The size of the product may also be a consideration. For example, people in Asia are generally smaller, requiring smaller sizes in clothing and footwear.Units of measurement also vary or food products will have to comply with health regulations and electrical products having to meet safety requirements. Climate often affects the design requirements: The ability to withstand extreme heat, cold, dryness and humidity. Religion and other cultural differences may also determine whether the product is saleable in its present form or otherwise. |
International
Import Export procedures Perhaps the manufacturer is too busy with his home market or too busy manufacturing to export. Whatever the reason, he may decide to engage in what is called Indirect Exporting Export Merchant, this is a trading company that will buy the local firm's goods outright and assume the risk of being able to resell them profitably abroad. The exporter merchant usually specializes in a particular line of products and/or in a particular geographical market area. Sometime they sells the goods with the original supplier's labels or puts its own label. Export Agent, is a trading company that acts for local manufacturers, usually representing a number of non-competing manufacturers.
In return for obtaining export Unlike the export merchant, the agent does not become the owner of the goods and therefore does not assume the risk of not being able to sell them abroad. An export agent is usually retained on one or two years renewable basis with an export agency agreement. The functions of the export agent are to appraise the export potential of the local manufacturer's products, advertise them abroad, look for foreign buyers, obtain export orders, and advise on documentation, shipping etc. |
